Tata Chemicals (TCL) has said that it has recorded a consolidated loss of Rs. 188 crore during the fourth quarter of the financial year 2012-2013.

The loss was mainly due to the write-down of goodwill of Rs. 484 crore involving its operations in Europe. The company's total income was recorded at Rs. 3,361.77 crore and operating profit at Rs. 351.41 crore during the fourth quarter from January to March 2013.

R. Mukundan, Managing Director, Tata Chemicals said, "As regards the impairment charge we have basically followed prudent accounting norms given the demand and weak macro-economic environment in Europe. There is an underlying softness in demand in the U. K. for soda ash and some demand segments in Europe have seen a 30 per cent drop in soda ash demand."

As for the entire financial year, the company recorded a net profit of Rs. 400.47 crore and the total income of Rs. 14,858.8 crore. The directors have recommended a dividend of Rs. 10 per share for the financial year 2012-2013. The operating profit of the company was down at Rs. 1,629 crore after providing Rs. 471.55 crore for impairment of assets during the period.