Dhanuka Agritech Limited Q3 FY 14-15 Net Profit Up 3.42% at Rs. 22 crores
New Delhi (Feb. 05, 2015): Dhanuka Agritech Limited, Bombay Stock Exchange (BSE: 507717) and National Stock Exchange (NSE:DHANUKA) listed, one of India’s leading Agrochemical formulations Company, today announced its Q3 financial results for the Quarter and Nine Months ended 31stDecember, 2014.
The company maintained its growth by registering 3.42% increase in its consolidated net profit for the quarter, at Rs.22.00 crores as against Rs.21.28 crores for the same period last year. Dhanuka Agritech reported net sales of Rs.179.04 crore for the quarter ended December 31, 2014 compared to Rs.166.99 crores in quarter ended December 31, 2013, showing 7.21% growth.
For the nine months period ending December 31, 2014, Dhanuka Agritech recorded net profit of Rs.84.18 crores against Rs.70.67 crores in the corresponding period last year. The company’s growth stood 19.12% for the nine month period ending December 31, 2014.
Commenting on the results and performance, Mr. R.G. Agarwal, Chairman, Dhanuka Agritech Limited, said, “Despite adverse agro-climatic conditions during this fiscal, Dhanuka Agritech continues to deliver superior performance. With our current product mix, ongoing branding initiatives and new product offerings, we will continue to grow at an increased pace. We are excited about launching new product ‘Sempra’ which is a highly effective herbicide in Sugarcane. It will go a long way towards improving Sugarcane yields and farmer's profits, while contributing to Dhanuka’s future growth, too.”
He further added, “We feel Indian agriculture and Indian farmer has a bright future ahead. There is an increased commitment from the farmer to make his agriculture more productive and remunerative. He wants a better life for his family and himself. The potential of Indian crop-protection chemicals market becomes clear when compared to Brasil, which has $10 billion sales, while India has only $2 billion, though it is much larger.”