Coromandel Fertilisers may merge with Godavari Fertilisers
Coromandel Fertilisers may merge with Godavari Fertilisers Coromandel Fertilisers announced that a meeting of equity shareholders and unsecured creditors of the company will be held on Oct. 8, 2007, for the purpose of considering the >scheme of amalgamation proposed to be made between the company & Godavari Fertilisers & Chemicals. The company reported a weak growth in net profit for the quarter ended in June 2007. During the quarter, the company witnessed a 4.85% rise in profit to Rs 129.70 million from Rs 123.70 million in the same quarter last year. Net sales for the quarter declined 30.15% to Rs 2,487.80 million compared with the corresponding quarter, a year ago. Shares of the company closed up Rs 3.60, or 4.11%, at Rs 91.25. The total volume of shares traded at the BSE was 41,553. (Wednesday)
