Dhanuka Agritech net profit rises 39 per cent to ₹102 crore

Agrochemical manufacturer Dhanuka Agritech has reported increase in net profit to ₹101.77 crore in the July-September quarter of the current fiscal, up 39 per cent from ₹73.02 crore in the year-ago period.

Total turnover increased 14 per cent to ₹617.92 crore (₹542.90 crore), Dhanuka Agritech said in a statement.

“The company did reasonably well during challenging times amid erratic rainfall, falling prices and subdued exports demand,” Dhanuka Agritech’s Managing Director M K Dhanuka said. The uneven rainfall in the country also impacted the revenue and bottom line, he added.

On the outlook until March, Dhanuka said the company was “cautiously optimistic about the demand in the remaining part of the fiscal amid El Nino conditions and global inventory in agrochemicals.” However, following the government’s decision to fix higher MSPs for the rabi crops, the company expects demand for agrochemicals to improve from the third quarter, he said.

During the second quarter, the company launched two new products — Tizom and Semacia, which have been well received by farmers, the statement said. The company has four manufacturing units in Gujarat, Rajasthan and Jammu & Kashmir.