Coromandel International today reported 38.39 per cent increase in consolidated net profit to Rs 111.81 crore for the third quarter of the current fiscal on account of lower expenses.
Its net profit had stood at Rs 80.79 crore in the October -December quarter of last fiscal.
The company's net income however fell sharply to Rs 2,270.80 crore during the quarter under review, from Rs 2,782.63 crore in the year-ago period.
Its expenses too fell significantly, Coromandel International Ltd said in a BSE filing. They declined to Rs 2,059.26 crore in the third quarter of 2016-17, from Rs 2,640.53 crore in the same period of 2015-16.
The company has four complex fertiliser plants with a combined capacity of about 30 lakh tonnes. Besides, it has seven SSP plants with total capacity of 10 lakh tonnes.
The company stock fell by 1.74 per cent to settle at Rs 333.35 a piece on BSE.
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