Tata Chemicals Q2 net down 48% to Rs 134 cr
12 Nov 2013 12:42 AM GMT
Tata Chemicals, the fertiliser and chemicals arm of the Tata Group, on Monday reported 47.64 per cent decline in profit after tax at Rs 134.44 crore in the quarter ending 30 September, due to Europe crisis, Kenya situation and lower profits in Barbala (UP) and Haldia (West Bengal) plants.
The company's PAT during Q2 of last financial year stood at Rs 256.77 crore. 'The decline in PAT was mainly due to three main reasons, the first one was the Europe crisis and the economic environment; the situation in Kenya where the prices as well as the volumes were affected. The third reason was the lower profits in our Barbala and Haldia plants,' Tata Chemicals Ltd CFO P K Ghosh said.
Operations in the UK and Kenya continued to face headwinds due to lower realisations and increasing energy prices kept challenging the international entities operations, he added.
The company's PAT during Q2 of last financial year stood at Rs 256.77 crore. 'The decline in PAT was mainly due to three main reasons, the first one was the Europe crisis and the economic environment; the situation in Kenya where the prices as well as the volumes were affected. The third reason was the lower profits in our Barbala and Haldia plants,' Tata Chemicals Ltd CFO P K Ghosh said.
Operations in the UK and Kenya continued to face headwinds due to lower realisations and increasing energy prices kept challenging the international entities operations, he added.
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