Agro-chemical firm Insecticides India Ltd today reported 67 per cent increase in its net profit at Rs 30.50 crore for the quarter ended June on good monsoon and launch of new products.
Its net profit stood at Rs 18.22 crore in the year-ago period, the Delhi-based firm said in a statement.
The company clocked 16 per cent growth in sales at Rs 345.62 crore in th first quarter of this fiscal from Rs 298 crore in the corresponding period of the previous year.
"We had launched new products last year which got good response, and plan to launch some this year as well. Kayakalp - a revolutionary biological product for the soil health has been already launched in the last quarter. We are happy they are doing well and contributing to overall revenue growth of the company," said Rajesh Aggrawal, MD, Insecticides India.
The monsoon has also been good so far and has contributed its part, he added.
Recently, Insecticides launched a new biological product 'Kayakalp' that helps in improving soil health.