Coromandel International grows 96%

Secunderabad : Coromandel International Limited, a leading manufacturer of fertilisers and chemicals, has registered a growth of 96% for the Quarter/ Half year ended September 30, 2010.

The unaudited financial results for the Quarter/ Half year ended September 30, 2010 were approved by the Board of Directors at its meeting held on Tuesday.

Sales turnover during the half year ended September 30, 2010 is Rs.4,306.13 crore, as against Rs.3,273.15 crore in the corresponding period last year.

The gross profit before depreciation, interest and taxes for the half year is Rs.762.39 crore as against Rs. 442.73 crore during the same period last year; depreciation provided is Rs. 30.74 crore (corresponding period last year Rs.28.98 crore), interest charged is Rs. 41.10 crore (corresponding period last year Rs. 42.74 crore).

Profit before tax for the half year is Rs. 690.55 crore as compared to Rs.371.01 crore in the corresponding period last year.

Provision for taxation for the period works out to Rs. 219 crore (Corresponding period last year Rs.131crore). The net profit is Rs.471.55 crore as against Rs. 240.01 crore during the corresponding period last year registering a growth of 96%.

The Board of Directors approved the sub-division of equity shares of Rs.2 each to two shares of Re.1 each and decided to seek Members approval through a Postal Ballot Process.