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Our Bureau

Hyderabad, Jan. 23

Coromandel Fertilisers Ltd (CFL), part of the Murugappa Group, has achieved a net profit of Rs 21.76 crore for the third quarter ended December 31, 2006, up marginally from Rs 19.13 crore during the same quarter last year. The sales turnover was put at Rs 461.74 croreduring the quarter under review, up against Rs 423.80 crore in the comparative quarter last fiscal. The company's board which met here on Tuesday approved the unaudited financial results.

The High Court's of Mumbai and Andhra Pradesh have convened the shareholders meeting to approve the scheme of amalgamation of Ficom Organics Ltd and its wholly-owned subsidiary Rasilah Investment Ltd with CFL on February 5, at Mumbai and February 7 at Hyderabad. Thereafter, the company will file the necessary petition in the AP High Court for seeking its approval of the scheme.

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