Dhanuka Agritech Q2 net up 28.86%
By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
Leading agrochemical formulation company Dhanuka Agritech Ltd registered a 28.86 percent increase in its consolidated net profit at Rs 20.97 crore for the quarter ended September 30, 2011 as against Rs. 16.27 crores for the same period last year.
Leading agrochemical formulation company Dhanuka Agritech Ltd registered a 28.86 percent increase in its consolidated net profit at Rs 20.97 crore for the quarter ended September 30, 2011 as against Rs. 16.27 crores for the same period last year.
Dhanuka’s consolidated revenue for the September quarter of 2011 stood at Rs. 194.07 crores as against Rs. 169.72 crores for the same quarter last year, up 14.35%. The higher revenue growth is attributed to new capacity expansion and increased market penetration with addition of 884 dealer/distributors for the company’s products.
On a sequential basis also, the company registered growth in its quarter-on-quarter consolidated net profit of 107.99% over profit figures of the preceding quarter that stood at Rs. 10.08 crores in the April-June quarter (Q1 FY11-12).
For the six months period ending September 30, 2011, Dhanuka recorded net profit of Rs. 31.05 crores against Rs. 25.02 crore in the corresponding period last year, a growth of 24.07%. Net revenue of the company for the six months ended Sept. 30, 2011 stood at Rs. 288.92 crores compared to Rs. 250.75 crores in the same period in previous fiscal, up by 15.22%.
“We are well positioned to pursue our strong growth potential and are moving forward with our expansion plans, new product introductions and setting up base in overseas markets to further enhance shareholder value”, M K Dhanuka, MD, Dhanuka Agritech Ltd, said.
Dhanuka has recently floated a 100% wholly owned subsidiary company for starting operations in Bangladesh to do agrochemicals business in the growing market. The company also recently launched ‘Banmite’ that addresses the need of Tea planters and ‘Bombard’ for the Paddy growers. The new products will further strengthen their offerings in the markets of East and South India that are leading producers of Tea and Paddy respectively.
agrochemical
First Published : November 07, 2011 12:00 am