Coromandel International’s Q4 net profit falls 15% to Rs 246.4 crore on higher input costs

Coromandel International

Coromandel International, a main organisation within the fertilisers and crop protection chemical substances section, announced its financial consequences for the fourth quarter of monetary 12 months 2023 on Monday. The corporation pronounced a net income of Rs 246.4 crore in Q4 FY23, down 15% from Rs 290 crore in Q4 FY22. The employer said that its revenue from operations grew by 11.5% to Rs 3,113.9 crore in Q4 FY23, from Rs 2,792.6 crore in Q4 FY22. The enterprise’s income before interest, tax, depreciation and amortization (EBITDA) margin reduced in size by way of 350 foundation factors to 12.Eight% in Q4 FY23, from 16.3% in Q4 FY22.

The organisation’s management stated that the decline in net profit become mainly because of the growth in enter costs, in particular uncooked materials and freight prices. The corporation stated it’s miles focusing on improving its product blend, improving its operational efficiency and strengthening its distribution community to triumph over the demanding situations posed by means of the risky market situations.