OREANDA-NEWS. Tata Chemicals (TCL), a global company with LIFE - Living, Industry and Farm Essentials - as its business reported an impressive 11 percent jump in its income from operation at Rs4,803 crore.

Key performance and financial highlights:

Higher sales volumes in key domestic businesses

Ongoing restructuring in the UK - steam turbine commissioning project in progress

Kenya restructuring completed; early signs of improvement

Subsidy receivable at Rs1211 crore as on September 30, 2014; subsidy collections under pressure

Standalone

Better volumes and realisations across most verticals

Soda ash demand stable; supply under pressure

Fertiliser sales - non bulk registers growth

Consumer products business growth in line with expectation

Consolidated

European and Kenyan business restructuring in progress; early signs of improvements

Global soda ash demand continues to be positive; better realisation at TCNA

Rallis India Q2 sales up by 7 percent to Rs636 crore / PAT at Rs73 crore

Financial Highlights for Q2 FY14-15:

Standalone

Income from Operations at Rs2,843 crore; up by 21 percent

Profit from Operations at Rs322 crore; up by 17 percent

PBT at Rs273 crore; up by 79 percent

PAT at Rs209 crore; up by 96percent

EPS at Rs8.21(not annualised)

Consolidated

Income from Operations at Rs4,803 crore; up by 11 percent

Profit from Operations at Rs653 crore; up by 14 percent

PBT at Rs452 crore; up by 30 percent

PAT after minority interest at Rs257 crore; up by 91 percent

EPS at Rs10.09 (not annualised)

Commenting on the company's Q2 & H1 FY14-15 performance, R Mukundan, managing director, TCL said:

"The quarter and half year under review has been encouraging, apart from good performance by all businesses, the restructuring exercise is in progress, with early signs of improvements.

Standalone revenue jumped by 21 percent to Rs2843 crore and net profit jumped by 96 percent to Rs209 crore due to better volumes in India across all the businesses. Better realisation at Tata Chemicals North America and positive performance by all the other businesses took the consolidated revenue to Rs4803 crore, a jump of 11 percent. Net profit at consolidated level registered an impressive growth of 91 percent at Rs257 crore.

Consumer products business continues to grow consistently at the market place and currently Tata Salt is market leader with 69 percent share in national branded edible salt market. I-Shakti pulses and Tata Swach reported healthy volumes and continues to grow steadily with focus on increasing the penetration levels across India. In the Fertiliser business, subsidy outstanding is at Rs1211 crore which have come down as compared to previous quarters but still remains a challenge.

In line with our focus on building branded products portfolio, during this quarter, our Industrial chemicals business launched GranPlus+ - Speckle grade soda ash in the Indian market. Farm Essential business also expanded Tata Paras brand portfolio with launch Tata Paras 20:20 for West Bengal and Patna market. Living Essential business expanded Tata Swach portfolio with launch of Tata Swach Viva (UV+UF) and Tata Swach Nova (RO) variants in September 2014. All the products are well received in the market and feedback is positive.

As we continue to focus on reshaping the portfolio to enhance share of consumer product business and non-subsidized farm inputs business, we will also simultaneously concentrate on improving our balance sheet by regularly reviewing non-performing and non-core investments."