New Delhi: Tata Chemicals on Friday reported a 31.82% increase in consolidated net profit at Rs343.02 crore in the fourth quarter of 2016-17 fiscal even as income remained down. Its net profit stood at Rs260.21 crore in the year-ago period, the company said in a BSE filing.
Total income declined to Rs3,079.47 crore in the January-March quarter of the 2016-17 fiscal from Rs3,618.14 crore in the year-ago period. However, expenses remained lower at Rs2,733.96 crore as compared to Rs3,310.56 crore in the said period.
For the FY 2016-17, net profit rose to Rs1,234.10 crore from Rs1,001.11 crore in the previous fiscal. The board has recommended a dividend of Rs 11 per ordinary share of Rs10 each for the 2016-17 fiscal, subject to the approval of the shareholders at the ensuing annual general meeting of the company. The dividend, if approved, will be paid on and from 11 August, 2017.
Tata Chemicals, a Tata group company, is engaged in manufacturing of chemicals, salt and fertilisers. It also sells pulses and spices under Tata Sampann brand. The firm is also into water purifier business.