Sharda Cropchem Q1 results | Company reports a net loss of Rs 89 crore

Sharda Cropchem offers agrochemical products, including insecticides, fungicides, and herbicides.

Sharda Cropchem reported a loss of Rs 89 crore for the quarter ending June 30 as compared to a profit of Rs 23 crore in the same period last year.

Revenue for the company decreased 23 percent to Rs 475 crore in the April-to-June quarter as compared with the same period a year before.

Revenue from the agrochemicals segment fell 23 percent at Rs 475 crore in the April-to-June quarter as compared with the same period a year ago. Non-agrochemicals revenue also fell 23 percent year-on-year to Rs 162 crore in the same period.

Revenues for the company has fallen due to lower volumes in Europe and LATAM regions on account of high inflation, ongoing recession and adverse weather conditions.

Sharda Cropchem offers agrochemical products, including insecticides, fungicides, herbicides, veterinary drugs, plant growth regulators, fumigants, regulators, rodenticides, and biocides. It has operations in Europe, NAFTA region (United States, Canada, Mexico), and Latin America.

Sharda Cropchem shares were down 5.23 percent at Rs 486.45 at 15.02 pm on the National Stock Exchange.​