New Delhi: Tata Chemicals Ltd posted a consolidated net profit of Rs. 275.43 crores for the quarter ended September 30, 2011, whereas the same was at Rs. 127.10 crores for the quarter ended September 30, 2010.
Total income for the company stood at Rs. 3652.73 crores for the quarter ended September 30, 2011, whereas the same was at Rs. 3011.46 crores for the quarter ended September 30, 2010.
"Figures of the corresponding period in the previous year are not comparable for the following reasons:
"In January 2011, the Company, through its wholly-owned overseas subsidiaries, acquired 100% stake of British Salt Limited, UK ("BSL"). Net Profit of the Group after minority interest for the quarter and half-year ended September 30, 2011 includes Rs. 2726 lakhs and Rs. 4949 lakhs respectively (corresponding previous periods include Rs. Nil and for the year ended March 31, 2011, Rs. 1049 lakhs), on account of BSL," the company said in a filing on the BSE.
Tata Chemicals said it continues to see healthy demand outlook for its soda ash business across markets and sees domestic soda ash sales to be impacted by rising interest rates.
The company, part of India's second-largest business group, said it is also eyeing investment opportunities in steel, hotel and manufacturing in Africa to grow its footprint on the continent, a senior executive said on Thursday.
In addition to Tata Chemicals' investment in Kenya, where it bought Africa's biggest soda ash producer, Tata Group has invested over $100 million across the continent, including in Ghana, South Africa, Nigeria and Mozambique among others.