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Dhanuka Agritech posts Q1 net profit flat at Rs 16 cr

Press Trust of India  |  New Delhi 

Agro-firm today posted a flat net profit at Rs 16.18 crore for the first quarter of the 2018-19 fiscal.

Its net profit stood at Rs 16.13 crore in the same quarter of the last financial year, the company said in a regulatory filing.

Net income declined marginally to Rs 221.54 crore during April-June quarter of the current fiscal from Rs 224.41 crore in the year-ago period.

Expenses remained slightly lower at Rs 200.42 crore as against Rs 201.55 crore in the said period.

M K Dhanuka said, "The company's slow growth in sales and profits may be attributed to uneven distribution rainfall."

Decline in EBITDA may be attributed to low growth in topline and change in product mix, he said.

However, the company's sales has picked up very well from first week of July at the start of monsoon. "Our expectations for coming quarter are high considering good monsoon and our strong and superior products backed by several marketing and branding initiatives," he said in a separate statement.

The Delhi-based company's shares were trading 3.59 per cent lower at Rs 568.30 apiece in the afternoon trade on the today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 10 2018. 15:05 IST
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