New Delhi, Apr 30 (PTI) Agrochemicals firm Coromandel International Ltd on Wednesday posted a more than three-fold jump in consolidated net profit to Rs 578.46 crore in the March quarter on the back of strong sales.

The company posted a net profit of Rs 163.92 crore in the year-ago period.

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Total income increased 28.72 per cent to Rs 5,114.34 crore for the January-March period of the 2024-25 fiscal year from Rs 3,996.25 crore in the year-ago period, according to a regulatory filing.

Expenses remained higher at Rs 4,714.65 crore as against Rs 3,764.40 crore during the period under review.

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For the full 2024-25 fiscal year, net profit rose 25.23 per cent to Rs 2,054.71 crore from Rs 1,640.64 crore in the previous year.

The board has approved an equity infusion in Coromandel Chemicals up to Rs 65 crore towards exploring joint venture opportunities for gypsum-based building material products as a part of diversification and long-term strategy.

Commenting on the performance, the company's Managing Director and CEO S Sankarasubramanian said, "Our growth was supported by higher sales volumes, improved operational efficiency, and disciplined execution of strategic initiatives. The nutrient and crop protection segments witnessed robust growth. The retail business expanded its footprint with 100 new stores and entry into Maharashtra and Tamil Nadu, crossing the 900-store mark, he said.

The CEO said the upcoming phosphoric acid and sulphuric acid project at Kakinada is progressing as per the plan and will be commissioned early next year.

In crop protection, capacity enhancements at Dahej and the new plant at Ankleshwar are building scale, while the NACL acquisition will expand the product portfolio and market presence internationally, the CEO added.

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