India's Tata Chemicals says delayed subsidy creating liquidity problems
MUMBAI Feb 8 (Reuters) - India's Tata Chemicals Ltd has pending dues of 14.96 billion rupees ($281 million) from the government on account of fertiliser subsidies, its chief financial officer said, adding that delayed payments were creating liquidity problems for the company.
India controls prices of some fertilisers sold to farmers, and compensates producers through cash payments to make up for the shortfall.
Earlier on Friday, Tata Chemicals posted a net profit of 2.24 billion rupees, unchanged from a year earlier. ($1 = 53.29 rupees) (Reporting by Kaustubh Kulkarni)
- Tweet this
- Share this
- Digg this
- China building South China Sea island big enough for airstrip - report
- Team mates will determine success of my captaincy - Kohli
- Bighorn sheep escapes Los Angeles Zoo, dies after car strikes it
- India approves $2.6 bln mounted gun purchase - official
- U.S. plans to arm Iraq's Sunni tribesmen with AK-47s, RPGs, mortars
India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article