Coromandel Intl FY10 net slips to Rs 468 cr

CHENNAI: Coromandel International, a part of Murugappa Group and manufacturing a wide range of fertilisers and chemicals, has reported a lower net profit of Rs 468.2 crore during 2009-10 against Rs 496.4 crore in the previous year, reports Our Bureau.

Net sales dropped by 58% to Rs 6,394.7 crore against Rs 9,375 crore in the year-ago period.

The company said the lower turnover is mainly due to steep fall in the price of fertilisers and fertiliser raw materials resulting in lower subsidy.