Fertiliser and crop protection chemical company Coromandel International Limited has reported a 23 per cent increase in consolidated net profit at Rs 110.38 crore for the quarter ended March, 2019 as compared with Rs 89.61 crore in the corresponding quarter previous year. The company's total income for the quarter stood at Rs 2,646.96 crore, an increase of 9 percent over Rs 2428.45 crore in the year ago period.
For the full year ending March, 2019, Coromandel International's consolidated net profit grew four per cent to Rs 720.48 crore from Rs 691.31 crore in the year-ago period. Total income rose 18.55 per cent to Rs 13,261.64 crore, according to the company filing.
"Coromandel has reported a good quarter, driven by its performance in nutrients and allied businesses. This was despite a deficit in the North East Monsoon, which impacted the sowing and agri input consumption in the company's key markets," the company managing director Sameer Goel said.
During the year, Coromandel introduced 10 new products in the nutrient and crop protection businesses. Its recently acquired bio pesticide business has given it access to developed markets such as the US, Canada and Europe, and has provided a presence in complementary product segments, according to Goel.