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Agro-chemicals major Dhanuka Agritech Ltd. reported a 2.3 per cent decline in profit, which stood at Rs 21.95 for the quarter ended March 31, as compared to Rs 22.46 crore in the corresponding period in the previous fiscal. Net turnover also slipped to Rs 150.22 crore for the fourth quarter from Rs 151.88 crore.
For 2014-15, the company reported a 13.95 per cent rise in net profit, which stood at Rs.106.13 crore, up from Rs 93.14 crore last fiscal. It registered growth of 6.32 per cent in net turnover, which rose to Rs 785.08 crore from Rs 738.41 crore.
“In spite of deficient rainfall, we have seen moderate growth in this fiscal. Our key products continue to add to the top line. We are well positioned to pursue our strong growth potential and are excited about introducing new products,” said RG Agarwal, Chairman, Dhanuka Agritech Ltd.
“We feel Indian agriculture and the Indian farmer has a bright future ahead. The consumption of crop protection chemicals is growing at a fast pace in India, too, with increasing farm incomes and awareness amongst farmers. The government is also taking steps to increase irrigated cultivable area and more crops per drop,” he added.
Dhanuka Agritech stock ended at Rs.606.75 (-4.75 per cent) on the BSE on Thursday.
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