Coromandel International Q4 results: Profit falls 33% to Rs 164 crore on lower income

Coromandel International on Thursday reported a 33 per cent decline in its consolidated net profit to Rs 163.91 crore for the latest quarter ended March on lower income. Its net profit stood at Rs 246.44 crore in the year-ago period.

Total income fell to Rs 1,640.64 crore in the January-March period of the 2023-24 fiscal from Rs 2,012.93 crore in the corresponding period of the preceding year. During the full 2023-24 fiscal, the company's net profit declined to Rs 3,996.25 crore as against Rs 5,522.68 crore in the preceding year. Total income also plummeted to Rs 22,289.75 crore last fiscal compared to Rs 29,799.03 crore in the 2022-23 fiscal.

Coromandel International is one of the leading agri solutions providers. It operates in two major segments, Nutrient and other allied businesses and Crop Protection. These include fertiliser, crop protection, bio products, specialty nutrients and organic businesses. The company is the second largest manufacturer and marketer of phosphatic fertiliser in India. Coromandel is a part of the Rs 74,220 crore Murugappa Group.