Tata Chemicals reported a 45 per cent decline in consolidated net profit at Rs 129.94 crore for the quarter ended December 31, 2015, on lower sales and a higher finance cost.

The company had posted a net profit of Rs 238.12 crore for the corresponding period of the last fiscal year (2014-15), according to a regulatory filing.

Income from operations fell nearly 4 per cent to Rs 4,637.35 crore in the third quarter of the current fiscal year (2015-16) from Rs 4,816.86 crore in the year-ago period.

Finance cost increased to Rs 159.64 crore during the quarter under review, from Rs 119.41 crore a year ago.Key performance and financial highlights:

Standalone

Soda Ash and Salt in India deliver improved performance over last year

Consumer portfolio revenues up by 25% over Q3 FY14-15

Tata Sampann, foods product portfolio, pan-India roll out continues

Subsidy receivable at Rs.1,577 Cr as on 31st December 2015

Consolidated

Magadi has improved profitability in Q3 FY15-16

US volumes impacted due to production outages and extreme weather conditions

European operations stabilized, post commissioning of the steam turbine. The financial performance was adversely impacted by the marking to market of hedging contracts for future gas purchases, supporting soda ash production

Adverse climatic conditions, weaker yields and lower prices of key crops impact Rallis India performance

Businesswise performance

Living essentials

TCL continues the journey of transformation towards a more consumer facing business

TCL is a market leader in the national branded salt segment with 66.7 % market share

Tata Salt ranked No.2 on the Brand Equity 'Most Trusted Brands' survey

Branded Pulses sales up 54% over the previous year

Branded Spices successfully launched in seven states; Delhi, UP, MP, Bihar, J&K, Uttarakhand and Rajasthan

Industry essentials

Soda ash market remains in balance

Indian Chemicals Business registers a healthy performance

European operations stabilized, post commissioning of the steam turbine. The financial performance was adversely impacted by the marking to market of hedging contracts for future gas purchases, supporting soda ash production

Magadi operations reflects improved performance

US operations were impacted by production outages and extreme weather conditions

Farm essentials

Subsidy receivable at Rs.1,577 Cr as on 31st December 2015

Adverse climatic conditions, deficient rainfall impact Rallis India performance