MUMBAI Tata Chemicals Ltd (TTCH.NS) has pending dues of 14.96 billion rupees 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.
(Reporting by Kaustubh Kulkarni)
Trending On Reuters
Business in india
Thousands of people swarmed the weekend opening of "Make in India" drive to attract foreign direct investment, pitched by PM Modi as "the biggest brand that India has ever created". Full Article | Slideshow