Fertiliser maker Coromandel International on Monday reported a 15 percent year-on-year decrease in its net profit at Rs 246.4 crore for the fourth quarter (Q4FY23) that ended on March 31, 2023. It was Rs 290 crore in the same quarter a year ago. Revenue from operations during the fourth quarter rose 29.5 percent to Rs 5,475.8 crore, as against Rs 4,226.8 crore in the previous-year quarter.

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EBITDA (earnings before interest, tax, depreciation and amortisation) during the March quarter stood surged 6.2 percent to Rs 403.2 crore versus Rs 379.7 crore in the corresponding quarter of last fiscal, while margins rose to 7.4 percent versus 9 percent on-year.

The board recommended a final dividend of Rs 6 per equity share for fiscal 2023. The record date for payment of the final dividend will be July 14, 2023. "Recommended a final dividend of Rs 6 per equity share of Face Value Re 1 each (600 percent) for the financial year 2022-23, subject to approval of shareholders at the ensuing 61st Annual General Meeting (AGM) of the company, scheduled to be held on July 27, 2023. The final dividend, if approved, will be paid on or after August 16, 2023, but within 30 days from the date of AGM," the company said in a regulatory filing.

According to an estimate by Bloomberg, Coromandel International was expected to see both net profit and sales rise in annual terms for the quarter under review. However, the company's top line and bottom line print will see decline in sequential terms.

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Shares of Coromandel International Ltd declined 1.40 percent to close at Rs 957.05 apiece in Monday's trade. The stock tumbled 1.41 percent in the last week, while on a year-to-date basis it rose up to 7 percent.