Coromandel International tumbles after weak Q1 results

Coromandel International fell 3.73% to Rs 364.8 at 14:33 IST on the BSE after consolidated net profit declined 30.8% to Rs 62.43 crore on 15.7% fall in net sales to Rs 2130.74 crore in Q1 June 2019 over Q1 June 2018.

The result was announced during market hours today, 23 July 2019.

Meanwhile, the S&P BSE Sensex was up by 30.75 points or 0.08% to 38,061.75.

On the BSE, 21000 shares were traded in the counter so far compared with average daily volumes of 6264 shares in the past two weeks. The stock had hit a high of Rs 372.65 and a low of Rs 361. The stock hit a 52-week high of Rs 591.9 on 12 March 2019 and a 52-week low of Rs 340 on 8 October 2018.

 

Coromandel International operates in business of fertilizers, specialty nutrients, crop protection and retail. The company is India's second largest phosphatic fertilizer player.

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