Tata Chemicals Q1 net profit falls 67pc at Rs 74 cr

The company had posted a net profit of Rs 226.33 crore in the year-ago quarter, according to a regulatory filing. Net income for the quarter under review declined by 9.88 per cent to Rs 2,406.82 crore from Rs 2,670.90 crore in the corresponding quarter previous of the preceding fiscal.

Tata Chemicals on Friday posted a 67.23 per cent drop in its consolidated net profit at Rs 74.15 crore for the June quarter due to poor sales. The company had posted a net profit of Rs 226.33 crore in the year-ago quarter, according to a regulatory filing.

Net income for the quarter under review declined by 9.88 per cent to Rs 2,406.82 crore from Rs 2,670.90 crore in the corresponding quarter previous of the preceding fiscal. In proportion to decline in the net income, the company's total expenses decreased by only 1.28 per cent to Rs 2,296.17 crore from Rs 2,325.91 crore in the year-ago period, the filing said.

Shares of the company settled lower by 1.39 per cent at Rs 305.60 apiece on the BSE..