Dhanuka Agritech declares 100% interim dividend

| Updated on: Feb 06, 2014

Dhanuka Agritech Ltd, an agrochemical formulations company, has announced an 82.11 per cent increase in its consolidated net profit for the quarter ended December 31, 2013, at Rs 21.27 crore, as against Rs 11.68 crore for the same period last year. The company said this year’s healthy rainfall has resulted in robust kharif and rabi crops in the country.

Dhanuka Agritech reported net sales of Rs 166.99 crore for the quarter ended December 31, 2013, as compared to Rs 139.56 crore for the quarter ended December 31, 2012.

M. K. Dhanuka, Managing Director said, “During this quarter, despite the weak economic environment, we have achieved sales growth.  Seeing the strong performance, the board has decided to reward its shareholders by declaring interim dividend at 100 per cent, i.e. Rs 2 per equity share, which is higher than last year’s interim dividend at 75 per cent per share.”

He added that the South and West zones were key markets and had done well.

For the nine-month period ended December 31, 2013, Dhanuka Agritech recorded net profit of Rs 70.67 crore against Rs 46.57 crore in the corresponding period last year. The company’s net turnover stood Rs 586.52 crore for the nine-month period ending December 31, 2013, as compared to Rs 451.13 crore in the same period in the previous fiscal, up by 30.01 per cent.

Published on February 06, 2014

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