Fertilizer maker Coromandel International Ltd. has posted a consolidated net profit of ₹154 crore for the quarter ended December 31 compared with ₹180 crore in the year-earlier period, a decline of 14%. Total income rose 11% to ₹3,059 crore (₹2,747 crore). Managing director Sameer Goel said the topline growth came despite the deficient North-East monsoon, that impacted sowing and agri-input consumption in key markets. Cumulatively, for the April-December period, there has been an all-round progress in the performance of the company with the total income increasing 21% to ₹10,615 crore.
A release from the company said the DBT (direct benefit transfer) in fertilisers has “fairly stabilised now and the industry has started receiving subsidies periodically. With government’s agricultural focus, we expect the business environment to improve in 2019.”