Fertiliser maker Coromandel International has clocked a net profit of Rs 121.54 crore in the last quarter of 2011-12, against Rs 72.62 crore in the year-ago period.
The 67 per cent increase in net profit was mostly on the back of a spurt in sales of and better price realisation.
During the quarter, the company's standalone sales turnover was Rs 2672.18 crore against Rs Rs 1249.55 crore, an increase of nearly 114 per cent.
The company's board has recommended a final dividend of Rs 3 a share.
With the interim dividend of Rs 4 already paid, the total dividend for the year comes to Rs 7 on the face value of Rs 1 a share.
“We have filed the scheme for issue of unsecured redeemable non-convertible bonus debenture of Rs 15 each for every equity share before the Andhra Pradesh High Court and are awaiting approval,” Mr Kapil Mehan, Managing Director, told media persons here on Monday.
For the financial year, Coromandel notched up a standalone sales turnover of Rs 9,823 crore (Rs 7,639 crore), higher by about 29 per cent.
Net profit for the year was Rs 693 crore (Rs 694 crore). The flat growth in net profit for the year was due to the non-compete fee of Rs 35.53 crore paid to the erstwhile Indian promoters of Sabero, which the company acquired during the year. The company's consolidated net profit for the year was, however, at Rs 638.79 crore, down by nearly 8 per cent from the previous fiscal's Rs 693.67 crore.