Financial Daily from THE HINDU group of publications
Friday, Jul 18, 2003
Financial Daily from THE HINDU group of publications Friday, Jul 18, 2003 |
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Corporate Results
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Fertilisers Coromandel Fert turnover down in first quarter Our Bureau
Hyderabad , July 17 COROMANDEL Fertilisers Ltd (CFL) has posted a turnover of Rs 44.52 crore and a net profit of Rs 2.93 crore during the first quarter ended June 30, 2003 against a turnover of Rs 70.23 crore and a profit of Rs 1.66 crore in the corresponding period last year. The company incurred an expenditure of Rs 35.21 crore as against Rs 60.69 crore. r The interest charges were Rs 3.21 crore. About Rs 3.92 crore was for depreciation, Rs 88 lakh for current tax and an equal amount towards deferred tax liability. During 2002-03, the company had posted a turnover of Rs 589.77 crore and a net profit of Rs 27 crore as against a turnover of Rs 679.71 crore and a profit of Rs 45.54 crore in the previous year. The fall in the turnover and net profit was stated to be on account of lower sales volumes due to drought and change in calculation of subsidy formula. The company had declared a total dividend of 60 per cent for the year as against 70 per cent in 2001-02.
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