Coromandel International Q4 net down at Rs 74 cr

Coromandel International Ltd, a company of the diversified Murugappa Group, has posted a lower consolidated profit of Rs 74 crore for the fourth quarter ended March 31, 2018, against Rs144 crore for the same period last year.

The company’s consolidated total income for the fourth quarter was up at Rs 2,387 crore against Rs 2,302 crore for the same period last year.

The company’s performance was witness to a subdued fourth quarter due to seasonality. However, its full year profitability has seen big jump.

For the year ended March 31, 2018, the company posted a profit of Rs 664 crore and total income of Rs11,049 crore against a profit of Rs 477 crore and income of Rs10,250 crore for the previous fiscal.

On a standalone basis, the company posted a profit of Rs 659 crore and income of Rs 11,044 crore for the year ended March 31, 2018, against a profit of Rs477 crore and income of Rs1,003 crore for the previous fiscal.

Sameer Goel, Managing Director, in a statement said: “We had a subdued fourth quarter due to the seasonality factor and depreciation of the currency”.