Coromandel Intl Q1 net profit falls 31 pc to Rs 62 cr

Agri-solutions provider Coromandel International Monday reported a 31 per cent fall in its consolidated net profit at Rs 62.43 crore during the first quarter of 2019-20 fiscal on poor income.

Net profit stood at Rs 90.21 crore in the same quarter previous year, the company said in a regulatory filing.

Total income declined to Rs 2,140.70 crore during the April-June quarter of the current fiscal from Rs 2,537.29 crore in the same quarter of 2018-19 fiscal.

Expenses stood at Rs 2,045.51 crore as against Rs 2,404.54 crore in the same period last year.

Commenting on the performance, Coromandel International Managing Director Sameer Goel said the company "experienced a challenging quarter as late monsoon arrival, deficit rains and consequent lower crop sowings delayed the agri-input consumption in its addressable markets."