Tata Chem Q2 net down 8 pc

	Financial Daily from THE HINDU group of publications Tuesday, October 30, 2001

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Tata Chem Q2 net down 8 pc

Our Bureau

MUMBAI, Oct. 29

TATA Chemicals Ltd has reported an eight per cent decline in net profit at Rs 43.41 crore for the second quarter of 2001-2002 against Rs 47.35 crore in the year-ago period.

In the second quarter, deferred tax accounted for Rs 3.76 crore. This was absent in the year-ago period.

Net sales for the period were down at Rs 388.06 crore from Rs 458.07 crore in the year-ago period.

Other income for the quarter was Rs 16.57 crore (Rs 15.15 crore).

While interest at Rs 30.89 crore (Rs 40.24 crore) and depreciation at Rs 33 crore (Rs 33.57 crore) edged down, employee separation compensation edged up to Rs 3.58 crore from the year-ago quarter's Rs 3.22 crore.

For the first half period, net profit has risen by 30 per cent to Rs 56.60 crore (Rs 43.59 crore). However, net sales for the period was down at Rs 679.48 crore (Rs 784.62 crore).

The company said the restoration work at Mithapur facility damaged in a fire in March 2001 has been completed and the soda ash and salt facilities are working at full capacity.