Coromandel International declares Q1 result
The unaudited financial results of Coromandel International Q1 result for the first quarter ended June 30, 2010 were approved by the Board of Directors at its meeting held on July 22, 2010.
THE UNAUDITED financial results for the first quarter ended June 30, 2010 were approved by the board of directors at its meeting held on July 22, 2010.
Sales turnover during this period is Rs 1548.87 crore, as against Rs 1587.98 crore in the corresponding period last year.
The gross profit before depreciation, interest and taxes for the three months period is Rs 210.13 crore as against Rs 107.64 crore during the same period last year; depreciation provided is Rs 14.20 crore (corresponding period last year Rs 14.04 crore), interest charged Rs 18.48 crore (Corresponding period last year Rs 17.45 crore). Profit before tax for the quarter is Rs 177.45 crore as compared to Rs 76.15 crore in the corresponding period last year. Improved raw material procurement efficiencies in fertiliser business and increased contribution from pesticides and specialty nutrients businesses have resulted in higher profitability for the quarter.
Provision for taxation for the period works out to Rs 56.00 crore (corresponding period last year Rs.24 crore). The net profit is Rs 121.45 crore as against Rs 52.15 crore during the corresponding period last year.
During the quarter, the company has acquired 100 per cent of equity share capital of M/s Pasura Biotech Private Limited. The board has approved merger of Pasura Bio-tech Private Limited (wholly owned subsidiary company) with the company.
In line with the strategy for the pesticides business, technical grade manufacturing facilities have been consolidated at the new plant at Ankleshwar, Gujarat. Consequently, the manufacturing operations relating to these products have been suspended at the Navi Mumbai Plant.
As part of overall strategy to increase production capacity from three million to four million tones, the board has approved a proposal for setting up additional train at Kakinada.
A copy of the advise to the stock exchanges giving the highlights of the un-audited financial results approved by the board of directors of the company on July 22, 2010 is attached.
Founded in 1900, the Rs 13617 crores (USD 3.03 billion) Murugappa Group is one of India's leading business conglomerates. The Group has 29 companies under its umbrella, of which seven are listed and actively traded in NSE & BSE.
The gross profit before depreciation, interest and taxes for the three months period is Rs 210.13 crore as against Rs 107.64 crore during the same period last year; depreciation provided is Rs 14.20 crore (corresponding period last year Rs 14.04 crore), interest charged Rs 18.48 crore (Corresponding period last year Rs 17.45 crore). Profit before tax for the quarter is Rs 177.45 crore as compared to Rs 76.15 crore in the corresponding period last year. Improved raw material procurement efficiencies in fertiliser business and increased contribution from pesticides and specialty nutrients businesses have resulted in higher profitability for the quarter.
Provision for taxation for the period works out to Rs 56.00 crore (corresponding period last year Rs.24 crore). The net profit is Rs 121.45 crore as against Rs 52.15 crore during the corresponding period last year.
During the quarter, the company has acquired 100 per cent of equity share capital of M/s Pasura Biotech Private Limited. The board has approved merger of Pasura Bio-tech Private Limited (wholly owned subsidiary company) with the company.
In line with the strategy for the pesticides business, technical grade manufacturing facilities have been consolidated at the new plant at Ankleshwar, Gujarat. Consequently, the manufacturing operations relating to these products have been suspended at the Navi Mumbai Plant.
As part of overall strategy to increase production capacity from three million to four million tones, the board has approved a proposal for setting up additional train at Kakinada.
A copy of the advise to the stock exchanges giving the highlights of the un-audited financial results approved by the board of directors of the company on July 22, 2010 is attached.
Founded in 1900, the Rs 13617 crores (USD 3.03 billion) Murugappa Group is one of India's leading business conglomerates. The Group has 29 companies under its umbrella, of which seven are listed and actively traded in NSE & BSE.
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