Coromandel International Ltd, agriculture solutions providers in fertilisers, crop protection has recorded a standalone profit after tax for the quarter ending March 31, 2022 at Rs 183 crore.
The city-based company had registered standalone profit after tax at Rs 156 crore during corresponding quarter previous year. Profit after tax for the year ending March 31, 2022 grew to Rs 1,412 crore as against Rs 1,313 crore recorded same period last fiscal.
Total income during the quarter under review surged to Rs 4,294 crore from Rs 2,860 crore registered same quarter previous financial year.
For the year ending March 31, 2022, standalone total income went up to Rs 19,231 crore from Rs 14,231 crore registered year ago.
The nutrient and other allied business during the quarter clocked revenue of Rs 3,683 crore as compared to Rs 2,344 crore in corresponding quarter previous year.
Revenue for the year in this segment rose to Rs 16,714 crore from Rs 12,200 crore in same period last financial year.
The revenue from the crop protection business grew to Rs 547 crore from Rs 494 crore registered same quarter last fiscal. Revenue for the year from this business stood at Rs 2,488 crore as against Rs 2,058 crore registered same period last fiscal.
''During the financial year 2021-22, the agri sector registered a strong performance with record food grain protection and agri exports. Coromandel showed a resilient performance with its diversified portfolio of phosphatic fertilizer, single super phosphate, crop protection, bio pesticide including organic fertilizer promoted balanced nutrition and integrated pest management with the help of its strong dealer network,'' company Managing Director Sameer Goel said.
The company ensured timely availability of critical agri-inputs including fertilizer despite the tight raw material situation, leveraging its long-term contracts with the suppliers and backward integration, he said.
''The company has embarked upon a digital transformation journey which will help in further improving efficiency by using real-time data and analytics in decision making across the value chain,'' he said.
Coromandel International continues to invest in supply chain, manufacturing excellence, research and development, new product development, digital marketing and branding, he said.
The company would leverage its strong presence in the agri-inputs space and continue to work closely with the Government and the farming community to ensure availability and providing sustainable farming solutions to enhance farm productivity, he added.
(With inputs from PTI)