Date:23/04/2005 URL: http://www.thehindu.com/2005/04/23/stories/2005042301291701.htm

Business - Briefly

Coromandel Fertisers net profit up

HYDERABAD: Coromandel Fertilisers (Murugappa Group) has reported a 27 per cent growth in turnover to Rs.1,554 crores and 60 per cent in net profit to Rs. 69 crores for the year ended March 31, 2005. For the previous year, turnover was Rs.1,222 crores and net profit Rs.43 crores. According to a company press release issued here on Friday, the board has recommended a dividend of 75 per cent against 65 per cent. Despite Government's subsidy formula not compensating the increase in cost of inputs totally, the company put up a better performance through improved operational efficiencies, control on distribution and borrowing costs. Focus on export of technicals and speciality products also contributed to the bottomline.