Coromandel Intl Q2 net profit spikes 60.5% to Rs 342.5 cr

India's second-largest phosphate fertiliser maker Coromandel International today reported a 60.51 per cent jump in consolidated net profit at Rs 342.53 crore for the second quarter of 2017-18 on higher sales.
Its net profit stood at Rs 213.39 crore in the same quarter last fiscal, it said in a BSE filing.
Total income increased to Rs 3,664.83 crore in July- September, from Rs 3,592.92 crore a year before.
Expenses offered relief as they remained lower at Rs 3,145.15 crore in the said period as against Rs 3,274.59 crore in the previous fiscal.
On the performance, Coromandel International Managing Director Sameer Goel said there was improved agri-input consumption during the quarter because of good monsoon.

"Stable commodity prices, higher asset utilisation and integrated marketing approach undertaken during Q2 have led to improved performance across nutrient and crop protection business segments," he said in a statement.

The farm sector prospects are positive in the second half of the year as the north-east monsoon is expected to be normal and the company will continue to create value for the farming community, he added.
Stock of the company fell by 2.03 per cent to settle at Rs 509.80 on the BSE today.
The company is into crop protection, nutrient and other allied business.