Coromandel International Limited, an agri solutions provider from the Murugappa group, posted a net profit of ₹539 crore in the third quarter ended December 31, 2023, against ₹379 crore in the corresponding quarter last year, a growth of 42 per cent.
The company board, which met to consider the results, approved an interim dividend of ₹6 a share.
The total income of the company stood at ₹8,350 crore (₹5,101 crore), a growth of 64 per cent.
During the nine-month period, the company’s net profit grew 44 per cent to ₹1,773 crore (₹1,229 crore)..
The total income for the period rose 62 per cent to ₹24,265 crore (₹14,937 crore)..
Revenue mix
While the nutrition and allied businesses contributed a revenue of ₹7,710 crore (₹4,483 crore) during the third quarter, the crop protection vertical earned an income of ₹651 crore (₹623 crore).
“The agricultural environment remained favourable in most of the key operating markets backed by an above average monsoon and normal crop,” Arun Alagappan, Executive Vice-Chairman of Coromandel International Limited, said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.