Tata Chemicals today reported 52 per cent increase in consolidated net profit to Rs 273 crore for the September quarter of the current fiscal.
Its net profit was Rs 180 crore in the July-September quarter of last fiscal, 2016-17.
Tata Chemicals' income from operations fell marginally by 0.7 per cent to Rs 3,462 crore in the second quarter of 2017- 18, the company said in a statement.
"Consequent to implementation of Goods and Service Tax (GST) from July 1, 2017, net income from operations is net off GST," it added.
The outstanding subsidy receivable stood at Rs 1,228 crore at the end of second quarter.
The company's consolidated net debt on September 30 was Rs 4,459 crore against Rs 5,573 crore on March 31, 2017.
Tata Chemicals Managing Director R Mukundan said, "The quarter under review saw a steady performance from the Indian as well as global chemicals business, registering improved profitability owing to cost and operational efficiencies."
In the consumer business, he .
Read Full Article On www.business-standard.com