Insecticides India sales boost 13.66% to Rs 135.24 crore in Q4 FY 2013

Indian agrochemical company Insecticides India(IIL) recorded an increase of 225.95% in net profit to Rs 5.15 crore in the quarter ended March 2014 as against Rs 1.58 crore during the previous quarter ended March 2013. Sales rose 13.66% to Rs 135.24 crore in the quarter ended March 2014 as against Rs 118.99 crore during the previous quarter ended March 2013.

The company attributed strong growth in the yearly profit to "good agricultural season and encouraging response to its new products launched over the last two years".

For the full year,net profit rose 13.08% to Rs 39.94 crore in the year ended March 2014 as against Rs 35.32 crore during the previous year ended March 2013. Sales rose 40.12% to Rs 864.08 crore in the year ended March 2014 as against Rs 616.68 crore during the previous year ended March 2013.

"The annual figures are encouraging as they indicate that the market is robust. Another encouraging aspect for the industry is to see Indian farmers adopting latest technology and products to boost their agricultural yields," IIL Managing Director Rajesh Aggarwal said.