Coromandel International slides after poor Q3 result

Coromandel International fell 2.03% to Rs 430.20 at 12:35 IST on BSE after consolidated net profit declined 14.49% to Rs 154.32 crore on 11.4% rise in total income to Rs 3,060.67 crore in Q3 December 2018 over Q3 December 2017.

The result was announced after market hours yesterday, 21 January 2019.

Meanwhile, the S&P BSE Sensex was down 220.95 points, or 0.6% to 36,358.01

On the BSE, 4,946 shares were traded in the counter so far, compared with average daily volumes of 4,535 shares in the past two weeks. The stock had hit a high of Rs 431.20 and a low of Rs 412.80 so far during the day.

Profit before depreciation, interest, taxes and exceptional item (EBITDA) for the quarter was Rs 305 crore in Q3 December 2018 from Rs 327 crore in Q3 December 2017.

Commenting on the financial results, Sameer Goel - Managing Director, Coromandel International, said the company continued to strengthen its marketing and branding initiatives, gaining significant market share and improving its customer reach.

Coromandel International, India's second largest phosphatic fertiliser company, is in the business of Fertilisers, Crop Protection, Specialty Nutrients, Organic Manure and Retail.

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