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Coromandel International Limited, an agri input solutions company from the Murugappa group, has reported a standalone net profit of Rs 379 crore in the third quarter ended December 31, 2021, as against Rs 326 crore in the same quarter last year, registering a growth of 16 per cent.
The company had registered a total income of Rs 5,093 crore (Rs 3,521 crore) in the quarter, showing a growth of 45 per cent.
For the nine-month period, the firm registered a net profit of Rs 1,228 crore (Rs 1,156 crore) on a total income of Rs 14,943 crore (Rs 11,349 crore) during the period.
“The company registered a growth of 45 per cent in revenues driven by growth in nutrient and crop protection businesses,” Sameer Goel, Managing Director of Coromandel International, said.
“We are focusing on operational, sourcing and marketing efficiencies to ensure that agri inputs are available at the right time to the farmers,” he said.
Outlook
Healthy reservoir levels and good soil moisture conditions augers well for the upcoming kharif season.
The nutrient and allied business reported a revenue of Rs 4,476 crore (Rs 3,028 crore) in the quarter, showing a growth of 48 per cent.
The crop protection business clocked revenues of Rs 623 crore (Rs 508 crore), showing a growth of 23 per cent.
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