Coromandel’s profit after tax rises by 22% in Q4

Coromandel International, a Murugappa Group company, has reported a total consolidated income of ₹2,647 crore in the fourth quarter ended March 31, 2019, against ₹2,428 crore in the same quarter last fiscal, showing a growth of 9 per cent.

Its profit after tax went up 22 per cent at ₹110 crore (₹90 crore) in the quarter.

For the full year ended March 31, 2019, its total consolidated income was ₹13,262 crore ( ₹11,187 crore), showing a growth of 19 per cent. The full-year PAT stood at ₹720 crore (₹691 crore).

“This was despite a deficit in the North-East monsoon, which impacted sowing and agricultural inputs consumption in our key markets. The crop protection business registered a revenue increase of 8 per cent during the year,” said Sameer Goel, Managing Director of Coromandel International. “We introduced 10 new products during the year in the nutrient and crop protection businesses. We improved on operational efficiencies,” he said.

With a stable business environment, agrarian reforms by the government and a near-normal forecast of the monsoon, we expect a healthy growth in farm sector in the current financial year,” he said.

Standalone results

The company’s standalone income went up by 9 per cent to ₹2,642 crore in the fourth quarter, against ₹2,432 crore in the comparable quarter previous year. The PAT was at ₹107 crore (₹85 crore).

For the whole year, the total standalone income was ₹13,240 crore (₹11,168 crore), registering a growth of 19 per cent. It registered a PAT of ₹714 crore (₹685 crore).