India's second-largest phosphate fertiliser maker Coromandel International posted a 24.17 per cent increase in consolidated net profit at Rs 90.21 crore during the first quarter of 2018-19 fiscal on higher income.
Its net profit stood at Rs 72.65 crore in the same quarter of the last financial year, the company said in a BSE filing.
Net income increased on a consolidated basis to Rs 2,537.29 crore during the April-June quarter of the 2018-19 fiscal from Rs 2,317.60 crore in the year-ago period.
Expenses remained higher at Rs 2,404.54 crore as against Rs 2,204.78 crore in the said period.
During the first quarter, the company said it acquired on a slump sale basis the assets and liabilities of Bio Business of EID Parry (India) Ltd with effect from 1 April, 2018 and its subsidiary Parry America Inc with effect from 19 April, 2018.
The company's scrip closed lower by 0.94 per cent at Rs 400.70 apiece on the BSE today.
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