Coromandel's sales up 20% to Rs 3215 crore in Q2 2013-14

Coromandel International Ltd, one of India’s leading manufacturers of a wide range of fertilisers, crop protection products and specialty nutrients, has registered a consolidated sales turnover of Rs 3215.39 crore in the quarter ended 30 September 2013, up by 20% compared with Rs 2675.18 crore in the corresponding quarter last year. However, the company’s consolidated net profit after tax (PAT) was down by 31% at Rs 164.49 crore in Q2 2013-14 compared with Rs 237.68 crore in the same period last year.
 
Coromandel’s subsidiaries, Sabero Organics and Liberty Phosphates reported a turnover of Rs 220.34 crores and Rs 86.75 crores, respectively, and EBIDTA of Rs 27.12 crores and Rs 5.60 crores, respectively, for the quarter. On a half year basis, the company’s turnover is Rs 5113.07 crore (corresponding period last year Rs 4529.72 crore) and consolidated profit after tax Rs 188.97 crore (corresponding period last year Rs 351.90 crore).
 
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Kapil Mehan, Managing Director, Coromandel International Ltd, commented, “Strong and active monsoon has had a positive effect on all the agri-inputs business of the Company during the quarter. Though the cost push pressures and the weakening of the rupee have impacted the financials, we are confident that our perseverance and focus of catering to the needs of the farming community through our diversified business will help us in achieving our long term business objectives. In fact, our consolidated EBIDTA for the quarter has registered a growth of 20% over corresponding previous quarter excluding prior year subsidy income.”