Fertiliser firm Coromandel International today posted 38 per cent increase in consolidated net profit to Rs 94.21 crore for the third quarter (Q3) ended on December 31,2013, account of higher income.
It had clocked the net profit of Rs 68.39 crore in the same period last fiscal. Income of the company in the October-December period of 2013-14 fiscal increase to Rs 2,756.18 crore as against Rs 2,424.47 crore in the same period in 2012-13 fiscal.
The company deals in segments of fertilisers, speciality nutrients, crop Protection and retail.
It manufacturers phosphatic fertilisers at its plants in Visakhapatnam and Kakinada in Andhra Pradesh, Ennore and Ranipet at Tamil Nadu.
The Tunisian Indian Fertilisers (TIFERT), a joint venture of Coromandel International and Gujarat State Fertilisers and Chemicals Ltd (GSFC) with two state-owned units in Tunisia, started production pf phosphoric acid at its plant at Skhira, in July this fiscal.
Shares of the company were today up by 0.47 per cent to Rs 243.95 apiece on BSE today.