Insecticides India posts Q4 net profit at Rs 28.55cr

Agro-chemical firm Insecticides India May 28 reported more than three-fold jump in standalone net profit to Rs 28.55 crore during the fourth quarter of 2018-19 on strong sales. Net profit stood to Rs 7.68 crore in the same quarter of previous fiscal, the company said in a regulatory filing.

Total income increased to Rs 199.90 crore during the March quarter of 2018-19 from Rs 169.30 crore in 2017-18.

Commenting on the performance, the company's Managing Director Rajesh Agarwal said, "In fourth quarter 2019, agro-chemical industry registered a mixed performance with a soft Rabi season due to deficient post monsoon and winter rainfall, whereas export revenues increased due to favourable demand in global markets."

Even in the subdued domestic market conditions, Insecticides India delivered an impressive growth across segments and products for the entire fiscal, he said in a separate statement.

Insecticides has formulation facilities at Chopanki (Rajasthan), Samba and Udhampur (Jammu & Kashmir) and Dahej (Gujarat). It also has two technical synthesis facilities at Chopanki and Dahej to manufacture technical grade chemicals.