Coromandel International, the country's second largest phosphatic fertiliser player, today clocked ten-fold jump in its consolidated net profit at Rs 75.43 crore in the first quarter of this fiscal.
The Secunderabad-based company had reported a net profit of Rs 7.49 crore in the same period last year, it said in a BSE filing.
Net income increased to Rs 2,289.43 crore in the April- June quarter of the 2017-18 fiscal from Rs 2,072.01 crore in the year-ago period.
However, expenses remained higher at Rs 2,174.16 crore in the first quarter of the fiscal as against Rs 2,060.30 crore in the year-ago period.
The company also informed the BSE that it has received environmental clearance for raising production capacity of its phosphoric acid facility at Vishakapatnam in Andhra Pradesh.
Its scrip closed higher by 0.39 per cent at Rs 437 a piece on the BSE today.
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