Dhanuka Agritech Q4 net up 26% at Rs 22.46 crore

Company had posted a net profit of Rs 17.86 crore in the same quarter in 2012-13 fiscal

Agro-chemicals firm Dhanuka Agritech today reported a 26% increase in net profit at Rs 22.46 for the fourth quarter ended March 31 on account of higher income.

It had posted a net profit of Rs 17.86 crore in the same quarter in 2012-13 fiscal.

Total income from operations during January-March 2014 quarter rose to Rs 152.80 crore from Rs 132.32 crore a year ago, the company said in a BSE filing.

For the entire 2013-14 fiscal, the firm's net profit increased to Rs 93.13 crore from Rs 64.44 crore in 2012-13 fiscal. Total income from operations rose to Rs 739.46 crore from Rs 585.72 crore.

The board has recommended a dividend of 100% at the rate of Rs 2 per equity share.

Commenting on the results and performance, company chairman R G Agarwal said, "The consumption of crop protection chemicals is growing at a fast pace in the country with increasing farm incomes and awareness amongst farmers."

Shares of the company closed 2.42% higher at Rs 286.20 apiece on BSE today.