Dhanuka Agritech Q2 net profit up 35% to Rs 32 cr

Total income of the company increased to Rs 253 crores

Agrochemical company Dhanuka Agritech today reported 35.29% rise in consolidated net profit to Rs 32.05 crore for the second quarter of the current financial year.

The company had clocked a net profit of Rs 23.69 crore for the same period last year.

Total income of the company during the period under review increased to Rs 253.40 crores as against Rs 204.35 crore in the same quarter of last year.

Dhanuka Agritech Managing Director M K Dhanuka said: "With good monsoon in most of the country, the first half was very encouraging for us with superior sales growth in all segments. We are expecting a robust growth in the second quarter on higher sowing in rabi season."

He added that the company's margin profile has improved during the quarter which is a result of better sales mix, quality of products and pricing power.

"Despite the fact that the rupee has been quite volatile during the quarter, we are well-positioned to pursue our strong growth potential and are moving forward with our strong new product pipeline," Dhanuka added.

Shares of the company, which is in the business of crop protection chemicals, today closed at Rs 151.00 apiece, up by 0.67% from its previous close.