Murugappa Group firm Coromandel International reported consolidated net revenue for the fourth quarter ended March declined by nearly 15% from the year-earlier interval to ₹246.44 crore.
The decrease net revenue got here on a greater than 28% improve in complete earnings to ₹5,522.68 crore.
For 2022-23, the fertilizer maker reported an nearly 32% improve in net revenue to ₹2,012.93 on the again of complete earnings rising nearly 55% to ₹29,799.03.
On a standalone foundation, the net revenue was greater than 42% at ₹261.53 crore and complete earnings at ₹5,519.19 crore, a rise of about 29%. For the fiscal, the net revenue elevated 44% to ₹2,034.67 crore, whereas complete earnings at ₹29,784.31 elevated 55%.
Final dividend
The firm has declared a closing dividend of ₹6 per share (face worth of ₹1 every). In February, it had declared an interim dividend of ₹6 per share.
On Monday, the corporate’s shares closed 1.02% decrease at Rs.960.75 apiece on the BSE.
“Coromandel delivered a robust performance, registering strong growth in turnover and profitability with its diversified portfolio of nutrients, crop protection, bio products and retail business,” Executive Vice Chairman Arun Alagappan mentioned. Major capital expenditure initiatives like sulphuric acid plant and desalination plant are progressing as per schedule.
The wholesome reservoir ranges and good soil moisture circumstances within the nation may offset the probably El Nino affect through the upcoming Kharif season and efforts are underway to mitigate any hostile affect of below-normal monsoons, he mentioned in a launch.
