New Delhi: Agro-chemical firm Insecticides India Ltd on Thursday reported a 23 per cent increase in net profit at Rs 17.4 crore for the quarter ended June, on higher sales.
The company had posted a net profit of Rs 14.17 crore for the corresponding period a year ago.
Turnover during the quarter ended June 2014 rose 28 per cent to Rs 252 crore as compared to Rs 198 crore reported in the corresponding period of the previous fiscal year.
"The increase in net profit implies reasonable growth. We are very optimistic with other quarters, though the season is delayed a bit this year, we should see good growth in the next two quarters," Insecticides India managing director Rajesh Aggarwal said.
Insecticides India manufactures and markets agrochemical products ranging from insecticides to fungicides to weedicides. It has six manufacturing facilities in Rajasthan, Gujarat and Jammu and Kashmir.
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