Coromandel International sees more than 2-fold jump in Q3 net profit

Agrochemicals steadfast Coromandel International Ltd connected Thursday posted a much than two-fold leap successful its consolidated nett net to Rs 507.91 crore successful the 3rd 4th of 2024-25 connected beardown sales.

The institution had a nett net of Rs 228.11 crore successful the year-ago period.

Total income accrued by 27.63 per cent to Rs 7,048.86 crore for the December 4th of the 2024-25 fiscal from Rs 5,522.69 crore successful the year-ago, according to a regulatory filing.

Expenses remained higher astatine Rs 6357.26 crore arsenic against Rs 5,207.95 crore successful the year-ago period.

The committee approved the company's program to found a wholly owned subsidiary steadfast successful the Netherlands, Europe, with an concern worth of up to EUR 1,00,000.

It besides approved issuance of firm warrant for up to USD 11 cardinal successful favour of 1 oregon much banks for availing moving superior facilities by its subordinate institution Senegal-based stone phosphate mining institution BMCC.

Coromandel International Managing Director S Sankarasubramanian attributed the robust Q3 show to beardown merchantability volumes successful nutrients and harvest extortion segments, operational excellence crossed businesses and continued execution of our strategical initiatives.

It was further aided by beardown tailwinds specified arsenic bully monsoon, higher reservoir levels and accrued harvest sowing successful the people markets, helium said.

"With favourable cultivation conditions and expanding adoption of our products, we are assured of sustaining our maturation momentum successful the quarters ahead," helium added.

Coromandel International, which specializes successful harvest extortion products, fertilizers, and speciality nutrients, has 18 manufacturing facilities crossed the country.