Unaudited financial results for Q3 approved by the Board of Directors
Sales turnover of the Company on a merged basis during this period is Rs.3172.92 crore as against Rs. 1629.02 crore (only CFL on Standalone basis) in the corresponding period last year.
The gross profit before depreciation, interest and taxes for the nine months period is Rs.412.09 crore against Rs.183.29 crore during the same period last year. Depreciation provided is Rs.40.34 crore (corresponding period last year Rs. 29.05 crore), interest charged Rs.51.51 crore (Corresponding period last year Rs.22.44 crore). Profit before tax is Rs.320.24 crore against Rs 131.80 crore for the corresponding period of last year.
Net Provision for taxation (including Fringe Benefit Tax) for the period works out to Rs.113.84 crore (net of deferred tax credit)(Corresponding period last year being Rs.47.82 crore). The net profit is Rs.206.40 crore as against Rs. 83.98 crore during the corresponding period last year.
The improvement in profitability is attributable to the various initiatives taken in the manufacturing, distribution and sales fronts resulting in higher contribution and increase in subsidy compensation for freight cost.
The Board of Directors also approved a proposal for expanding its Rural Retail Business.
A copy of the advice to the Stock Exchanges giving the highlights of the unaudited financial results approved by the Board of Directors of the Company on January 22, 2008 is attached.
Coromandel Fertilisers Limited, is a constituent of Murugappa Group which has a turnover of over US $ 2.0 Billion, is a pioneer and market leader in several fields of business with manufacturing operations across 12 states in the Country. The Group has a strong presence in Abrasives, Engineering, Bio-products, Sanitaryware, Sugar, Fertilisers, Pesticides, Finance, General Insurance, Plantations and Nutraceuticals.
