Coromandel International Q2 net down 32.5% to Rs 160.1 cr

Coromandel International's second quarter matched analysts' expectations on topline and bottomline front while operational performance was better-than-expectations.

The fertilisers and pesticides manufacturer's consolidated net profit fell 32.5 percent year-on-year to Rs 160.1 crore while total income from operations grew 20.2 percent on yearly basis to Rs 3,215 crore in July-September quarter. The growth in total income was attributed to pick up in volume growth on strong Kharif Crop.

According to a CNBC-TV18 poll, analysts on an average had expected the company to report net profit of Rs 160 crore on revenues of Rs 3,170 crore for the quarter.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) slipped 14 percent Y-o-Y to Rs 297 crore and operating profit margin declined 370 basis points to 9.2 percent in second quarter. Analysts had expected EBITDA at Rs 275 crore and margin at 8.7 percent.

At 15:17 hours IST, the stock was trading at Rs 230, up 0.37 percent over previous close on the Bombay Stock Exchange.