Business

Coromandel Intl net up 35%

Agricultural solutions provider Coromandel International has reported an almost 35% increase in consolidated net profit to ₹338 crore for the quarter ended June on the back of higher sales.

Total income stood at ₹3,686 crore (₹3,224 crore).

The healthy show was driven by strong revenue growth in the crop protection business and sustained performance in the nutrient and allied businesses, said Sameer Goel, MD.

The performance came despite the sudden onslaught of second wave of the pandemic, a sharp increase in raw material prices and constraints in raw-material availability.

With the forecast of normal monsoon for third consecutive year and good reservoir levels in key markets, the company expects good traction during the ongoing Kharif season, he said. Share prices of Coromandel International closed with a gain of 5.11% at ₹913.90 apiece.


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Printable version | Sep 27, 2021 9:25:00 PM | https://www.thehindu.com/business/coromandel-intl-net-up-35/article35549852.ece

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