Coromandel International has reported a consolidated net profit of ₹62.43 crore for the quarter ended June 30, a decline by almost 31% from the ₹90.21 crore posted in the year earlier period.
The total income was ₹ 2,140.70 crore or more than 15% lower compared to ₹2,537.29 crore of the corresponding quarter of the last fiscal.
Managing director Sameer Goel said Coromandel experienced a challenging quarter as late monsoon arrival, deficit rains and consequent lower crop sowing delayed the agri-input consumption in its addressable markets.
“The company has integrated its fertilizer and Single Super Phosphate (SSP) businesses to generate operational synergies and strengthen its position in the complementary markets of west and north India,” he said in a release on Monday. The company shares gained less than 1% to close at ₹378.95 apiece.