India's Tata Chemicals says delayed subsidy creating liquidity problems

MUMBAI Fri Feb 8, 2013 3:34pm IST

Stocks

   

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)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

India-WTO Standoff

India-WTO Standoff

India threatens to derail WTO deal, prompts angry U.S. rebuke  Full Article 

Economic Pulse

Economic Pulse

New govt promises low and stable tax regime for economic revival.  Full Article 

IPO Probe Ends

IPO Probe Ends

Facebook says SEC's IPO probe ends, extending WhatsApp closing date  Full Article 

World Stocks

World Stocks

Goldman Sachs downgrades stocks to neutral for short term  Full Article 

Disappointing Results

Disappointing Results

Amazon's far-reaching ambitions, lack of profits, unnerve investors  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Market Eye

Market Eye

Nifty retreats from record highs on profit taking.  Full Article 

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage