Agricultural chemical maker Coromandel International on Thursday, October 26, reported its earnings for the quarter ended September 2023. The company reported net consolidated profit for the quarter ending September at ₹756.87 crore, a 2.2% rise from Rs 740.56 crore in the year-ago period.
The Chennai-based fertiliser maker's revenue from operations plunged 30.9% to ₹6988.13 crore, from ₹10,113.39 crore in the same period a year ago. Coromandel International's EBITDA came at ₹1,058.7 crore, while the operating margin of the company during the quarter was at 15.24%, up from 10.43% in September 2022.
Coromandel International specialises in fertilisers, crop protein, bio pesticide, specialty nutrients, organic fertilizers, etc. Its business is divided in two main segments i.e. nutrient and other allied products and crop protection.
The shares of Coromandel International ended over 4% lower on Thursday. The stock has fallen in six out of the last 10 trading sessions. The shares have gained 13% in the past six months, and over 19% in 2023 so far.
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