Date:20/10/2005 URL: http://www.thehindubusinessline.com/2005/10/20/stories/2005102002710300.htm

Back Coromandel Fert Q2 net profit doubles

Our Bureau

Hyderabad , Oct. 19

COROMANDEL Fertilisers Ltd (CFL), part of the Murugappa group, has reported 45 per cent growth in sales turnover and 100 per cent growth in net profit for the second quarter of current fiscal ended September 30, 2005.

As per the unaudited financial results, the company posted net sales of Rs 702.68 crore as against Rs 484.89 crore in the corresponding quarter of previous fiscal, while net profit amounted to Rs 38.61 crore (Rs 18.31 crore), yielding an EPS of Rs 15.19 (Rs 7.21).

It earned other income of Rs 14.36 crore (Rs 1.88 crore), which includes Rs 10.52 crore received as interest on income tax refund.

For the six months ended September 2005, net sales amounted to Rs 828.57 crore (Rs 677.33 crore) and net profit stood at Rs 48.49 crore (Rs 39.33 crore), yielding an EPS of Rs 19.08 (Rs 15.48) on an equity base of Rs 25.41 crore.

In a press release here, the company said its board of directors approved the sub-division of equity shares of Rs 10 each to five shares of Rs 2 each and decided to seek shareholders' approval through postal ballot.