Comments
Coromandel International Limited, a Murugappa group company that provides agri inputs, has posted a net profit of ₹762 crore in the second quarter ended September 30, 2023, as against ₹738 crore in the comparable quarter last year, showing a growth of 3 per cent.
The total income during the quarter stood at ₹7,031 crore as against ₹10,140 crore in the same quarter last year, registering a growth of 31 per cent.
The company reported a net profit of ₹1,267 crore ( ₹1, 234 crore) on a total income of ₹12,771 crore ( ₹15,916 crore) in the the first half of the financial year
“Coromandel displayed a resilient performance in a challenging business environment, sustaining its profitability and improving its working capital position during the quarter. The company’s key operating markets were impacted by sub normal monsoons affecting the agri inputs offtake,” Arun Alagappan, Executive Vice Chairman, Coromandel International Ltd, said in a statement on Thursday.
“With forecast of a normal North-East monsoon, we expect the demand cycle to be conducive in the upcoming months. We will continue to drive the sustainable agricultural practices and improve farm prosperity,” he said.
The nutrient and allied business contributed a revenue of ₹6,307 crore in the quarter as against ₹9,461 crore in the comparable quarter last year, while the crop protection business chipped in ₹722 crore ( ₹702 crore) in the quarter.
Comments
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.