Murugappa Group company Coromandel International reported consolidated net profit for the fourth quarter ended March declined by almost 15% from the year-earlier period to ₹246.44 crore.
The lower net profit came on a more than 28% increase in total income to ₹5,522.68 crore.
For 2022-23, the fertilizer maker reported an almost 32% increase in net profit to ₹2,012.93 on the back of total income rising almost 55% to ₹29,799.03.
On a standalone basis, the net profit was more than 42% at ₹261.53 crore and total income at ₹5,519.19 crore, an increase of about 29%. For the fiscal, the net profit increased 44% to ₹2,034.67 crore, while total income at ₹29,784.31 increased 55%.
Final dividend
The company has declared a final dividend of ₹6 per share (face value of ₹1 each). In February, it had declared an interim dividend of ₹6 per share.
On Monday, the company’s shares closed 1.02% lower at Rs.960.75 apiece on the BSE.
“Coromandel delivered a robust performance, registering strong growth in turnover and profitability with its diversified portfolio of nutrients, crop protection, bio products and retail business,” Executive Vice Chairman Arun Alagappan said. Major capital expenditure projects like sulphuric acid plant and desalination plant are progressing as per schedule.
The healthy reservoir levels and good soil moisture conditions in the country could offset the likely El Nino impact during the upcoming Kharif season and efforts are underway to mitigate any adverse impact of below-normal monsoons, he said in a release.
For all the latest business News Click Here
