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Insecticides India net profit up 59% in Q2
Nov. 16, 2016
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IndiaAgrochemicals company Insecticides India's net profit rose by 59 per cent to Rs 28.68 crore for the quarter ending September 30th 2016 on higher sales.
Its net profit stood at Rs 17.99 crore in the year-ago period, the company said in a regulatory filing.
Income from operations increased to Rs 467.50 crore in the second quarter of this fiscal from Rs 369.99 crore in the corresponding period of the previous year.
The company had posted a net profit of Rs 39.29 crore over a turnover of Rs 988.15 crore in the previous year.
The board re-appointed Rajesh Aggarwal as Managing Director for a period of three years with effect from November 15, 2016.
When contacted, Insecticides India's CFO Sandeep Aggarwal said: "Profits have increased in the second quarter as monsoon has been good. Moreover, we have launched 4 new products this fiscal. We have prepared a strategy to focus on 20-22 products, which are relatively having better margins."
The company's debt has fallen below Rs 200 crore as on September 30, 2016, he added.
Source: Business Standard
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