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Coromandel International Ltd’s standalone net profit declined 88.5 per cent at Rs 14 crore in the fourth quarter ended March 31, 2013, compared with Rs 122 crore in the same period last year.
The turnover of the Hyderabad-based company decreased by 27 per cent at Rs 1,948 crore (Rs 2,672 crore).
For the full-year, it posted a net profit of Rs 444 crore (Rs 693 crore). The turnover decreased 13 per cent to Rs 8,560 crore from Rs 9,823 crore.
“Deficit monsoon in the key addressable markets during the year and growing price disparity between urea and phosphate prices impacted the demand for phosphatic and potassic fertilisers,’’ Kapil Mehan, Managing Director, said in a release on Tuesday.
The board had recommended a dividend of Rs 4.50 per equity share. Coromandel’s scrip lost 2.25 per cent on the BSE on Tuesday to end at Rs 190.80.
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