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.