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Our Bureau

Mumbai, Oct 29 Sharp fall in sales pushed Tata Chemicals net profit down by 20 per cent to Rs 222.83 crore for the quarter ended September 30, 2009 from Rs 277.70 in the year ago period.

Income from operations fell by 53 per cent to Rs 2,242 crore from Rs 4,794 crore.

The company’s performance reflected the slow down in some sectors of the economy, said a company official. However, the results are expected to be better in the next quarter, he added.

During the quarter, the company hiked its stake in the group company Rallis India to 50.06 per cent, investing Rs 360 crore.

The company informed the stock exchanges that it had stopped producing soda ash and sodium bi-carbonate at the Brunner Mond BV facility (owned by Tata Chemicals) in the Netherlands on August 31.

The factory is expected to be decommissioned by December 31.

More Stories on : Financial Performance | Fertilisers | Tata Chemicals Ltd

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