Coromandel International income dips in Q4

Date:05-02-2017

Coromandel International, a fertiliser firm, has reported a sharp fall in income at ₹2,300 crore in the standalone entity in the quarter ended March 31, 2017, against ₹3,058 crore in the corresponding quarter last year.

The net profit for the quarter is put at ₹144 crore against ₹92 crore in the same quarter last year.

The board recommended a dividend of ₹5 per share (with a face value of ₹1 each).

For the full year, the standalone income stood at ₹10,239 crore against ₹11,690 crore last year.

The net profit for the year was ₹477 crore (₹358 crore).The consolidated income for the quarter stood at ₹2,302 crore (₹3,059 crore). The net profit is put at ₹144 crore (₹92 crore).

“With a forecast of a near normal south-west monsoon and favourable agriculture policies, we expect rural consumption to remain buoyant in 2017-18,” Sameer Goel, Managing Director, Coromandel International, has said in a statement.

“During the quarter, the firm leveraged its diversified product portfolio, wide market coverage and strong brand presence to improve its performance across the nutrients and crop protection segments, despite failure of the north-east monsoon in some southern States,” he added.