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Crop protection firm Insecticides (India) Ltd posted a 36 per cent increase in net profit for the quarter-ended December 2021 on higher sales. The company reported a net profit of Rs 8.15 crore on revenue of Rs 314.64 crore for the quarter ended December 2021, as compared to a net profit of Rs 5.99 crore on revenue of Rs 300.20 crore in the same period last year.
For the nine months ended December 2021, the company reported an 18 per cent increase in net profit at Rs 84.62 crore (Rs 71.47 crore in same period last year). Revenue during the nine-month period was up by 4.9 per cent at Rs 1,228.16 crore (Rs 1,170.21 crore).
Rajesh Agarwal, Managing Director, IIL said, said in statement that the company has delivered stable growth in sales and profitability on year on year basis during the December quarter despite the Covid wave and the increase in input costs. “We are glad that contribution of our focus products has increased. We are also happy to share that our exports have crossed the Rs 100 crore mark in nine months of this fiscal and we look forward to good prospects for the same in the last quarter,” Agarwal added.
The IIL scrip ended 1.63 per cent higher at Rs 707.50 on NSE on Thursday.
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