Insecticides (India) Q2 net up 21%

insecticides (India) Ltd, a BSE-listed agrochemical firm, announced a growth of 21 per cent in net profit at Rs 12.91 crore for the quarter ended September 30, as compared to Rs 10.10 crore in the same period last fiscal.

The company has posted a 34 per cent rise in revenue at Rs 185 crore in Q2FY11 as compared to Rs 138 crore in the corresponding quarter last financial year, it said in a statement.

The company is engaged in manufacturing of all types of insecticides, fungicides, weedicides, herbicides, plant growth regulators and household pesticides.

We have set an ambitious target of raising our turnover multiple times in the next five years, company managing director and CEO Rajesh Aggarwal said.

He said the company plans to set up a technical plant in Gujarat and a formulation plant in Jammu and Kashmir to realise the growth targets.

The company has production units at Chopanki (Rajasthan) and Samba (Jammu).

Mr Aggarwal said the company will be ready by year-end to roll out production from its units each at Dahej and Udhampur.