Coromandel International Limited Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2018
January 20, 2019
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Coromandel International Limited announced consolidated earnings results for the third quarter and nine months ended December 31, 2018. For the quarter, the company's total income grew by 11% during the quarter ended December 31, 2018. Total income for the quarter was INR 30,590 million in comparison to the corresponding quarter last year of INR 27,470 million. Net profit after tax was 1,540 million in comparison to INR 1,800 million for the corresponding quarter last year.
For the nine months, the company's consolidated total income grew by 21% to INR 106,150 million compared to INR 78,580 million a year ago. Profit after tax was INR 6,100 million compared to INR 6,020 million a year ago.
For the quarter, on standalone basis, the company's consolidated total income grew by 11% to INR 30,530 million in comparison to the corresponding quarter last year of INR 27,430 million. Net profit after tax was INR 1,530 million in comparison to INR 1,800 million for the corresponding quarter last year.
For the nine months, on standalone basis, the company's total income was INR 105,980 million compared to INR 87,360 a year ago. Profit after tax was INR 6,070 million compared to INR 5,990 million a year ago.
Coromandel International Limited is engaged in the manufacturing and trading of farm inputs consisting of fertilizers, crop protection, specialty nutrients and organic compost. The Company's segments include Nutrient and other allied businesses, and Crop Protection. Its products and services include fertilizer, crop protection, specialty nutrients and organic. The Companyâs fertilizers consist of nitrogen, phosphate, calcium and potassium in various grades and are available under various brands, such as GroShakti Plus, Grosmart, Paramfos, Gromor 15-15-15-09, Godavari Ultra DAP, Gromor / Godavari DAP, Gromor MOP and Gromor Urea. Its crop protection products consist of insecticides, fungicides, herbicides, plant growth regulators and bio-products. It offers organic fertilizers derived from natural sources like city waste (organic portion only), sugarcane molasses and its by-products, oil cakes and gypsum. The Company operates a network of over 750 rural retail outlets across India.