Dhanuka Agritech's Q3 net profit up 82% at Rs 21.27 crore

India’s Agrochemical Company Dhanuka Agritech recorded a substantial increase of 82.11% in consolidated net profit at Rs.21.27 crores for the third quarter ended 31 December, 2013. The net sales rose by 19.7% to Rs.166.99 crores y-o-y. “This year’s healthy rainfall has resulted in robust Kharif and Rabi crops in the country,” the company notes.

For the first nine months, Dhanuka Agritech boosted by 51.8% in net profit to Rs.70.67 crores y-o-y. The company’s net turnover achieved a 30% rise to Rs.586.52 crores.

Commenting on the results and performance, Shri M.K.Dhanuka, Managing Director said, “Dhanuka Agritech continues to exceed expectations of its stakeholders by delivering superior performance every time. During this quarter, despite the weak economic environment, we have achieved superior sales growth. Our new products have been enthusiastically received by farmers and continue to gain market share. Seeing strong performance during Nine Months, the Board has decided to reward its Shareholders by declaring Interim Dividend 100% i.e. Rs. 2 per equity share, which is higher than last year’s Interim Dividend 75% per share. South and West zone are our key markets and have done well. We are happy that our branding initiatives, including advertisements featuring Mr. Amitabh Bachchan as Brand Ambassador have helped us achieve this sustainable growth and we are confident of achieving even better growth in future.”