Insecticides India's Q4 net profit dips 4%

Pesticides-maker Insecticides India today reported a 4% drop in net profit to Rs 6.13 crore for the fourth quarter ending March 31, 2011, as against Rs 6.41 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE).

Net sales in the March quarter rose by 20% to Rs 83.46 crore from Rs 69.70 crore in the corresponding period of the previous year.

The board of directors of the company has recommended a dividend of Rs 2.50 per equity share subject to approval of the shareholders, the filing said.

Insecticides is engaged in the business of formulation of pesticides and manufacturing of technical pesticides.

Shares of the company at 1315 hours where trading at Rs 300, down by 2.50 from its previous close at BSE.