Tata Chemicals net at Rs 606 cr

Tata Chemicals on Monday reported a consolidated net profit of Rs 606 crore for the year ended March 31, 2010. The company had a consolidated net profit of Rs 648 crore in the previous fiscal, it said in a filing to the BSE.

Tata Chemicals on Monday reported a consolidated net profit of Rs 606 crore for the year ended March 31, 2010.

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The company had a consolidated net profit of Rs 648 crore in the previous fiscal, it said in a filing to the BSE.

“The figures of the corresponding period of last year are not comparable due to Rallis India Ltd becoming a subsidiary of the company and the actuarial gains and losses on the funds for employee benefits (pension plans) of the overseas subsidiaries for the period from April 1, 2009,” it added.

The company will issue 1.15 crore shares to promoter Tata Sons Ltd on a preferential basis. At the current market price price of Rs 300 the company would raise around Rs 345 crore by issuing the shares.