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Coromandel International Ltd, a Murugappa group company that is into agri input solutions, has posted a drastic fall in the net profit in the third quarter ended December 31, 2023. It reported a net profit of ₹242 crore in the quarter against ₹539 crore in the comparable quarter last year.
It posted a revenue of ₹5,450 crore against ₹8,308 crore in the same quarter last year.
The nutrients and allied businesses contributed the bulk of the income at ₹4,892 crore, followed by crop protection division with ₹612 crore in the quarter.
For the nine-month period ended December 31, 2023, the company posted a net profit of ₹1,509 crore (₹1,773 crore) on a total revenue of ₹18,129 crore (₹24,138 crore).
For the full year last year, the company reported a net profit of ₹2,034 crore on a revenue of ₹29,609 crore.
The company’s total income for the first half was at ₹12,771 crore (₹15,927 crore in the corresponding period of the previous year). The profit after tax for the first half was at ₹1,249 crore (₹1,240 crore).
The company’s shares fell by 7.64 per cent to close at ₹1,050 on Tuesday.
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