Coromandel reports 134.7 pc jump in net profit

CHENNAI: Coromandel Fertiliser, part of the $3 billion Murugappa Group, today reported a 134.7 per cent jump in net profit for the quarter ended June 30, 2010.

The company reported a net profit of Rs 120.06 crore for the quarter ended June 30, 2010, an increase of 134.7 per cent compared to the same period of last year.

The city-headquartered company reported a net profit of Rs 51.14 crore in the same period of last year, it said.

For the year ended March 31, 2010 the company reported a net profit of Rs 467.68 crore, it said.

The consolidated total income for the quarter ended June 30, 2010 however dipped to Rs 1,552.82 crore from Rs 1,603.10 crore in the same period of last year.

For the year ended March 31, 2010 the company reported a consolidated total income of Rs 6452.11 crore.

The company said during the quarter, it acquired 100 per cent of equity share capital of Pasura Biotech Private Ltd.

Coromandel markets around 2.9 million tonnes of phosphatic fertilisers and it is the second-largest producer of phosphatic fertilisers in India, the statement added.