Agro-chemical maker Insecticides India Ltd reported 22 percent decline in net profit at Rs 18 crore for the quarter ended September on poor monsoon. The company had posted a net profit of Rs 22.93 crore in the year-ago period. Net income dropped by 8 percent to Rs 370 crore during July-September period of this fiscal.
"The net profit in Q2 declined by 22 percent and income by 8 percent as against the Q2 of last year," Insecticides India Ltd said in a statement. Commenting on the result, Insecticides India MD Rajesh Aggarwal said: "We all know that it turned out to be a deficient monsoon, especially the period between July and September, causing less output. "However, with the variety in the product bouquet and pan India presence, we managed to reduce its effect to our best." Insecticides has formulation facilities in Chopanki (Rajasthan), Samba & Udhampur (Jammu & Kashmir) and Dahej (Gujarat).
It also has technical synthesis plants at Chopanki and Dahej to manufacture technical grade chemicals. The leading and most popular brands in the kitty of IIL include Nuvan, Pulsor, Hakama, Lethal, Victor, Thimet and Monocil. Last year, IIL launched Mycoraja, its first bio-product equipped to promote healthy growth and greater nutrient absorption in a wide range of crops from rice, wheat and vegetables to oilseeds as well as cotton.
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