Coromandel International’s netmore than doubles to ₹234 cr in Q4

Our Bureau | Updated on May 26, 2020

Hyderabad, May 26

Coromandel International Ltd, which manufactures fertilisers, crop-protection products and bio-pesticides, has registered a 9 per cent growth in consolidated total income at ₹2,881 crore in the quarter ended March31, against ₹2,647 crore in the same period last year.

The consolidated net profit after tax for the quarter more than doubled to ₹234 crore, against Rs 110 crore in the corresponding quarter last year.

For the financial year 2019-20, the company’s consolidated total income stood at ₹13,177 crore against ₹13,262 crore last year. The net profit for the year stood at ₹1,065 crore, a growth of 48 per cent, against ₹720 crore last year.

Standalone results

Coromandel’s standalone total income for the fourth quarter was at ₹2,864 crore, a growth of 8 per cent, from ₹2,642 crore in the comparable quarter last year.

Net profit for the quarter more than doubled to ₹231 crore (₹107 crore).

“Coromandel had a strong performance in the financial year 2019-20, driven by nutrient and allied businesses and a good recovery in crop-protection business,” Sameer Goel, Managing Director of Coromandel International Ltd, said.

“The performance was further backed by external factors like above-normal monsoon, good reservoir levels, which resulted in improved sowing and agri input consumption,” he said.

Published on May 26, 2020

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