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Coromandel profit zooms 51% in 2QFY2000 - Views on News from Equitymaster
 
 
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  • Oct 27, 1999

    Coromandel profit zooms 51% in 2QFY2000

    Coromandel Fertilisers Limited (CFL) is a part of the Murugappa Group, engaged in the manufacture of phosphatic and nitrogenous fertilisers. The company reported a significant 51% jump in its net profit to Rs 234 m in the second quarter ended September 30, 1999.

    The company's turnover was up by 43% to Rs 2,371 m over the corresponding period in 1998. The company's profitability would have been higher, but for a 94% increase in tax provision to Rs 108 m.

    Total expenditure during the period increased by 40% to Rs 1,963 m. Depreciation and interest charges were also up by 21% and 11% respectively. The net profit margin increased slightly to 9.9% from 9.4% in the corresponding period in the previous year.
    (Rs m) 2QFY2000 2QFY1999 Change
    Net Sales 2,371 1,658 43.0%
    Other Income 17 28 -38.2%
    Expenditure 1,963 1,402 40.0%
    Interest 53 48 10.8%
    Depreciation 30 25 20.5%
    Profit before Tax 342 211 62.1%
    Tax 108 56 93.9%
    Profit after Tax 234 155 50.7%
    Net profit margin 9.9% 9.4%  

     

     

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