Insecticides Q2 profit up 19% to Rs 42.97 cr

Agro-chemical firm Insecticides (India) Monday reported 19 per cent increase in net profit to Rs 42.97 crore for the quarter ended September, 2018.

Its net profit stood at Rs 36.13 crore in the year-ago period, the company said in a regulatory filing.

Total income rose to Rs 458.64 crore in the second quarter of this fiscal from Rs 418.92 crore in the corresponding period of the previous year.

"The company is firmly on growth path as the demand for our products remains steady. We are also working on the development of new products to keep up supplying updated and upgraded products to our farmers," said Rajesh Aggarwal, managing director, Insecticides.

The company launched four new combination products in last six months which have been received well in the market and clocked a turnover of Rs 52 crore.

It has formulation facilities at Chopanki (Rajasthan), Samba & Udhampur (Jammu & Kashmir) and Dahej (Gujarat). It also has two technical synthesis plants at Chopanki and Dahej to manufacture technical grade chemicals.