Agro chemicals maker Insecticides India Ltd (IIL) today reported a net profit of Rs 5.15 crore for the quarter ended March 31, 2014, against that of Rs 1.58 crore in the same period of previous year.
Total turnover from operations grew by about 13.5 per cent to Rs 135 crore during the last quarter of 2013-14, the company said in a filing to BSE.
For full 2013-14 fiscal, net profit rose by 13 per cent to Rs 39.94 crore, compared to Rs 35.32 crore in the previous fiscal.
The company attributed strong growth in the yearly profit to "good agricultural season and encouraging response to its new products launched over the last two years".
Total turnover rose by 40 per cent to Rs 864 crore in 2013-14, against Rs 616 crore in 2012-13.
"The annual figures are encouraging as they indicate that the market is robust. Another encouraging aspect for the industry is to see Indian farmers adopting latest technology and products to boost their agricultural yields," IIL Managing Director Rajesh Aggarwal said.
