The Board of Directors of Coromandel International Limited approved 400 per cent interim dividend (Rs. 4 per share) to the company’s shareholders on Monday. The Board also approved the unaudited financial results for the third quarter ended on December 31, 2011.
The company claimed 11 per cent growth in the sales during the first nine months of the current financial year (2011-12) compared to the same period during the last fiscal. Sales of the company were put at Rs. 7,051.64 crore in the first three quarters this year against Rs. 6,353.2 crore during the period last year.
Managing Director of the company Kapil Mohan said Coromandel had posted net profit of Rs. 571.73 crore in the first three quarters of 2011-12 against Rs. 621.84 crore during the same period in the last financial year. The company had scquired Sabero Organics Gujarat Ltd with 69.1 pc holding during the third quarter, he stated.