CFL registers Rs 3,800 crore income in 2007-08

Chennai, Apr 22 (UNI) Coromandel Fertilisers Ltd (CFL) has registered a total income of Rs 3,800.11 crore for the year ended March 31, 2008, as against Rs 2,084.22 crore of the corresponding period last year.

The profit before depreciation, interest and taxes for the year stood at Rs 455.38 crore, a company release here today said.

The PBT was Rs 333.42 crore in 2007-08 compared to Rs 146.35 crore in 2006-07 while the PAT for the year was Rs 209.76 crore.

The company continued to improve its performance and profitability despite steep increase in the price of key raw materials. The improved profitability has been mainly due to the improved operating efficiencies, recognition of raw material prices in subsidy with one month lag, instead of three months lag reckoned earlier, and due to the increased share of contribution from non fertilizer businesses like pesticides and specialty nutrients divisions.

The Board of Directors recommended payment of 175 per cent dividend as against 100 per cent paid last year, the release added.

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