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Agrochemicals firm Insecticide India Ltd (IIL) has posted a net profit of ₹3.6 crore for the first quarter of FY20, about 5.7 per cent higher than the ₹3.4 crore posted in the previous year period.
Its net revenue rose 12.4 per cent to ₹358 crore (₹319 crore).
FY20 started on a “negative note” with a delay in the sowing season due to a 15-20-day delay in monsoon onset, said IIL’s MD Rajesh Agarwal. A 16 per cent rainfall deficit aggravated the decline in demand for agrochemicals, he added.
Despite subdued domestic environment, the company was able to put up a performance with growth in revenues and maintain profitability margins due to its strong product portfolio, he said.
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