Tata Chemical net fell by 22 pc due to exchange loss

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Mumbai, July 30 (UNI) Tata Chemcals's profit after tax (PAT) fell by nearly by 22 per cent in the first quarter due to exchange loss or market to market restatement.

The company has posted a net profit at Rs 107 crore for the quarter ended June 30 as compared to Rs 137 crore in the corresponding quarter a year ago.

A notional loss of Rs 128.87 crore was due to unrealised exchange loss or market to market restatement (under AS-11) of foreign currency borrowings, including ECB raised to fund the purchase of GCIP, during the quarter, the company said here today.

However, income from operations grew at Rs 2,192 crore compared to Rs 1,129 crore, a year ago, increasing by 94 per cent.

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