The Hindu Business Line : Coromandel Fert posts lower net, turnover

COROMANDEL Fertilisers Ltd (CFL), belonging to the Rs 4,200-crore Murugappa group, has posted a sales turnover of Rs 70.23 crore and a net profit of Rs 1.66 crore during the first quarter of the current fiscal. It has registered a fall in turnover as well as profit against the turnover of Rs 81.30 crore and net profit of Rs 5.67 crore recorded in the same period the previous year.

The company, however, stated that in view of the seasonal nature of the fertiliser business, the first quarter results were not indicative of the overall profitability for the year.

According to the unaudited results, the company has incurred an expenditure of Rs 60.69 crore and provided Rs 3.4 crore towards interest charges, Rs 3.85 crore for depreciation and Rs 1.14 crore for taxation during the period under consideration.

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