Insecticides India standalone net profit rises 67% in Q1 FY18

Agrochemicals firm Insecticides India last Wednesday reported 67% growth in its net profit at Rs 30.50 crore during June quarter as compared to Rs 18.22 crore for the corresponding quarter last fiscal.

The company also reported a 16% growth in total revenues at Rs 345.62 crore in 1Q FY18 as against Rs 298 crore a year ago. This comes on the backdrop of a subdued first quarter for the industry due to transition to the Goods and Services tax (GST).

Rajesh Aggarwal, managing director, Insecticides India, said, “We had launched new products last year which got good response, and plan to launch some this year as well. Kayakalp - a biological product for the soil health has been already launched in the last quarter. We are happy they are doing well and contributing to overall revenue growth of the company. Besides, the monsoon has also been good so far and has contributed its part”.