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Camson Bio Technologies reported that its net profit nearly doubled in the June quarter to ₹4 crore against ₹2.3 crore in the same period last year. Income was up 16 per cent at ₹36 crore (₹31 crore).
The focus on value added products helped the company’s profit margin improve by 350 basis points to 11.2 per cent in the June quarter. Biocides sales were up 33 per cent at ₹10 crore during the quarter. Camson plans to expand its footprint by venturing into 26 new markets.
Santosh Nair, CEO, said the company is witnessing repeat product sales which reflects farmers’ confidence in its products.
Farmers’ sentiment has improved after the revival of monsoon and may lead to higher spending by them, he said. Shares of the company were down 5 per cent at ₹99 on Thursday.
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