Tata Chemicals, the fertiliser and chemicals arm of Tata Group, on Friday posted a 116.5% rise in its net profit at Rs 275 crore in the July-September quarter of current fiscal on the back of higher growth.
Net profit of the company had stood at R127 crore in the same quarter last fiscal.
“This was a good quarter for the company as all the verticals have shown sound growth in demand,” said R Mukundan, MD, Tata Chemicals.
He said the company had posted the current profit numbers despite an impact of Rs 47 crore towards MTM (mark to market) on account of currency fluctuations. Company’s net sales rose by 19.7% to R3,571 crore during the period compared to Rs 2,983.5 crore reported in the same period last year.