Agri solutions provider Coromandel International Ltd. has posted a consolidated net profit of ₹110 crore for the quarter ended March 31, an increase of 22% from ₹90 crore in the year ago period.
Total income of the company increased 9% to ₹2,647 crore (₹2,428 crore).
“It was a good quarter, driven by the performance in nutrients and allied businesses,” MD Sameer Goel said on Tuesday.
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For 2018-19, the consolidated total income at ₹13,262 crore (₹11,187 crore) registered a growth of 19%. Profit after tax was higher by 4% at ₹720 crore (₹691 crore). During the year, Coromandel made an all-round progress by improving its customer engagement, branding capabilities and furthering its operational efficiencies, Mr. Goel said.
The company had strengthened its research and development, product development and registration functions as well.
“With a stable business environment, the government’s agrarian reforms, and forecast of a near normal monsoon, we expect a healthy growth in the farm sector during 2019,” he said.
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Dividend
The board of directors has recommended a final dividend of ₹3.50 per equity share of ₹l each for 2018-19.