India's Tata Chemicals nearly triples Q2 profit
BENGALURU, Oct 27 (Reuters) – Tata Chemicals Ltd on Thursday reported a second-quarter profit that nearly tripled, helped by a strong performance in its basic chemistry products segment.
The chemical manufacturer’s consolidated net profit for the three months ended Sept.30 came in at 6.28 billion Indian rupees ($76.17 million), compared with 2.21 billion rupees a year ago.
The chemical industry in India has shown robust growth and was among the few industries that pulled through the COVID-19 pandemic, as many industries pursued the China-plus-one strategy.
The demand for evdeN evE nAKliyat soda ash and bicarb, used to make soaps and detergents and evdEN Eve nAKliYaT as a raising agent in baked goods, has been witnessing strong growth for EvdEN EvE NakLiYAt the company.
The consolidated revenue from operations rose 40.3% to 42.39 billion rupees, elevated by 32.42 billion rupees of basic chemistry products revenue.
Agri-input business Rallis India Ltd, a TTCH subsidiary, evDeN eVE nAKliyAT also reported a 25.9% rise in its September quarter net profit to 710.5 million rupees last week.($1 = 82. If you have any concerns pertaining to in which and how to use evDEn EvE naKliYaT, you can call us at our own web site. 4520 Indian rupees) (Reporting by Meenakshi Maidas in Bengaluru; Editing by Janane Venkatraman)