Coromandel International Limited, a crop protection, fertilisers and other agri inputs provider, has reported a consolidated
net profit after tax of ₹334 crore in the third quarter ended December 31, 2020, as against ₹265 crore in the same quarter last year, showing a growth of 26 per cent.
The firm registered a consolidated total income of ₹3,542 crore in the quarter ended December 31, 2020, as against ₹3,288 crore in the corresponding quarter last year.
For the nine months ended December 31, 2020, the profit after tax stood at ₹1,173 crore, showing a growth of 41 per cent in the same period last year. The firm registered a consolidated total income of ₹11,385 crore (₹10,296 crore) during the nine-month period.
“Excessive rainfall in some of our operating geographies led to the
postponement of rabi sowing and skipping of a few applications. Fertiliser business registered a volume growth of 8 per cent during the quarter,” Sameer Goel, Managing Director of Coromandel International, has said.
Outlook for 2021-22
“With the forecast of a normal monsoon and the roll-out of Covid vaccination programme in the coming months, we expect the economic activities to normalise in the financial year 2021-22,” he said.
“A large evaporator plant is coming up at Vizag to improve the availability of concentrated phosphoric acid. The sulphuric acid plant has been successfully recommissioned at Ranipet, and a pilot liquid fertiliser plant is being set up at Vizag,” he said.
Stating that bio-pesticides business registered impressive growth in the matured European and US markets, he said that the company was planning to expand Thyagavalli plant’s capacity to cater to the increased demand for bioproducts.