Agrochemical manufacturer Insecticides (India) Ltd (IIL) has announced 31.38 per cent rise in its net profit to ₹12.31 crore during October-December quarter of 2023-24 fiscal, as against ₹9.37 crore in the corresponding quarter of the previous year.
Consolidated revenue (excluding other income) of the company was almost flat at ₹357.94 crore (₹356.53 crore), IIL said in a statement.
In the first nine months of FY24, IIL recorded ₹1,693.88 crore in revenue (₹1,499.43 crore), the statement said.
“IIL’s strategic focus on enhancing the mix of value-added products, including Hachiman, Torry, and Shinwa, in the past two years has contributed to the upward trajectory. In current quarter, IIL has launched two new products — Million, a herbicide for wheat, and Nirog, a bio fungicide,” the statement said.
Rajesh Aggarwal, Managing Director of IIL said: “We continue to witness growth across our product portfolio, driven by R&D and backward integration initiatives. Our focused marketing efforts and brand-building activities have yielded positive results despite of odds of the season. We remain committed to sustainable growth.”
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.