Mumbai

Tata Chemicals today reported narrowing of net loss to Rs 74.17 crore in January-March quarter of FY 2014-15, helped by growth in soda ash and salt business besides rise in pulses volume.

The company had posted a net loss of Rs 1,225.72 crore in January-March quarter last year, Tata Chemicals, a Tata group firm, said in a BSE filing.

Total income of the company rose to Rs 3,765.38 crore during the fourth quarter of last fiscal from Rs 3,752.35 crore in the corresponding period of 2013-14.

Tata Chemicals also informed that the board at its meeting held today recommended dividend of 100 per cent (Rs 10 per ordinary share) for 2014-15 and a special dividend of 25 per cent (Rs 2.50 per ordinary share) on the occasion of the company’s platinum jubilee year, aggregating 125 per cent (Rs 12.50 per ordinary share).

The dividend, if approved by the members at the Annual General Meeting to be held on August 11, 2015, will be paid to shareholders on and from August 14, 2015, it said.

“The quarter under review has been encouraging and our Magadi operations have started experiencing the positive impact after the painful restructuring exercise. The USA and Indian chemical businesses performance was satisfactory, as was the salt portfolio,” Tata Chemicals Managing Director R Mukundan told reporters here.

He said salt portfolio continues to grow consistently at the market place and has maintained its leadership position with a market share of 67 per cent in the national branded edible salt segment.

The i-Shakti pulses volumes grew by 47 per cent in the quarter on a year-on-year basis and continue to grow steadily with focus on increasing the penetration levels across India, he added.

Continued focus on expansion of branded products portfolio and market penetration helped consumer products business achieve sales turnover of Rs 1,520 crore in FY15, a jump of 15 per cent over previous year, he said.

PTI