Fertiliser producer Coromandel International today reported a decline of almost 8% in its consolidated net profit at Rs 638.79 crore for the 2011-12 fiscal due to rise in input costs.
The company had posted a net profit of Rs 693.67 crore in the 2010-11 financial year, it said in a filing to the BSE.
The total expenditure of the farm input major increased by 34% to Rs 8,906.83 crore in the last fiscal from Rs 6,645.78 crore in 2010-11.
The consolidated net sales of the company rose by 30% to Rs 9,789.18 crore from Rs 7,530.83 crore in 2010-11.
For the quarter ended March 31, 2012, the consolidated net profit of the company stood at Rs 66.89 crore compared to Rs 70.98 crore in the year-ago period.
The consolidated net sales of the company increased to Rs 2,735.64 crore in the fourth quarter of the last fiscal from Rs 1,179.16 crore in the same quarter in the 2010-11.
Coromandel has also recommended a dividend of Rs 3 per share for the year ended March 31, 2012.
Coromandel, which is the country's leading producer of phosphatic fertiliser, along with its wholly-owned subsidiary Parry Chemicals has acquired a total of 74.57% stake in Mumbai-based Sabero Organics Gujarat, making the company its subsidiary effective December 17, 2011.
The company, a part of the $3.8 billion Murugappa Group, is engaged in manufacturing fertilisers, specialty nutrients, crop protection and retail.
Shares of the company declined marginally by 0.14% today from its previous close on the BSE to Rs 290.30.
