Insecticide India Q2 net falls 3%

By CnAgri Print

Insecticides India Ltd reported a 3 per cent drop in net profit at Rs 15.86 crore for September quarter on higher finance costs. The company had reported a net profit of Rs 16.38 crore in the same period last year.

Revenues for the current quarter grew by 10 per cent to Rs 230 crore against Rs 210 crore. The finance costs grew three times to Rs 7.67 crore (Rs 2.48 crore)

For the first half of current fiscal, IIL reported a 8 per cent rise in net profit at Rs 28 crore on revenues of Rs 379 crore over corresponding period last year.

"Our results reflect the increased demand for our products and improved growth performance. It has strengthened our balance sheet and raised the full-year adjusted profit forecast” said Rajesh Agarwal, Managing Director, IIL in a statement.

The Insecticide India scrip ended marginally lower at Rs 417.40 on the BSE on Thursday.