Coromandel International's Q4 PBT rises 91%, total income up 8.84%

The total income for the quarter rose 8.84 per cent to Rs 2880.82 crore from Rs 2646.96 crore in the year ago period.

Fertilisers and crop protection products manufacturer Coromandel International Limited reported a 91.9 per cent jump in profit before tax (PBT) at Rs 314.16 crore for the quarter ended March 31, 2020 as compared to Rs 163.71 crore in the corresponding quarter of the previous year.

The total income for the quarter rose 8.84 per cent to Rs 2880.82 crore from Rs 2646.96 crore in the year ago period. For the full year ended March 31, 2020, the company reported a 26 per cent increase in PBT of Rs 1378.51 crore as compared to Rs 1092.58 crore in the previous year.

Commenting on the financial results, Coromandel International's managing director Sameer Goel said, "Coromandel had a strong performance in FY 19-20, driven by nutrient and allied businesses and a good recovery in crop protection business. The company continued its focus on offering superior farm solutions, introducing new generation products, improving cost and operational efficiencies through backward integration, smart sourcing and managing its working capital. The performance was further supported by external factors like above normal monsoon, good reservoir levels which resulted in improved sowing and agri input consumption in the company's key markets."

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