Coromandel International Limited, a fertiliser and crop solutions company from the Murugappa group stable, reported an 11.5 per cent dip in net profit to Rs 72.62 crore for the quarter ended March 31, 2011, as compared with Rs 82.07 crore in the corresponding quarter previous year.
Total income for the quarter under review was down 9.5 per cent to Rs 1,248.96 crore from Rs 1,379.55 crore. The decrease in profit and income in the fourth quarter was attributed to preponement of annual shutdown in the quarter apart from the disruption in supply of phosphoric acid.
In line with the reasons explained by the company, the expenditure during the quarter was also down 14.34 per cent to Rs 1,164.96 crore from Rs 1,360.07 crore in the corresponding previous quarter.
However, with the scheme of amalgamation of Pasura BioTech Private Limited (PBPL) with the company effective April 2010, the standalone as well as consolidated figures of last year/quarter are not comparable with those in 2010, the company stated.
Though the company did not give consolidated results for the quarter ended March 31, 2011, the standalone as well as consolidated results for the full year ending the same date, however were almost same.
For the full year, net profit grew 48.32 per cent to Rs 693.67 crore as compared with Rs 467.68 crore. Income grew 18.36 per cent to Rs 7,636.41 crore from Rs 6,452.11 crore in the previous year.
The board recommended a final dividend of Rs 3 per equity share. With the interim dividend of Rs 4 already paid, total dividend for the year stood at Rs 7 per share of Rs 1 face value, the company said.