Dhanuka Agritech’s net profit rises 39 percent to ₹102 crore

Agrochemicals maker Dhanuka Agritech posted a net profit of ₹ 101.77 billion for the July-September period of the current fiscal, up 39 percent from last year’s ₹ 73.02 billion. Total revenue rose 14 percent to ₹617.92 billion (₹542.90 crore), Dhanuka Agritech said in a statement.  “The company has done relatively well in tough times amid heavy rains, falling prices, and modest export demand”, said M K Dhanuka, CEO of Dhanuka Agritech. 

Uneven rainfall in the country has also affected revenue and profits. On the outlook for March, Dhanuka said the company is “cautiously optimistic about remaining fiscal demand due to El Nino conditions and global agrochemical inventories”. However, the government decided to set higher MSP prices for rapeseed crops, and the company expects an improvement in demand for agrochemicals from the third quarter. During the second quarter, the company launched two new products, Tizomi and Semacia, which were well received by farmers. The company has four manufacturing units in Gujarat, Rajasthan, and Jammu and Kashmir.

Leave a Reply

Your email address will not be published. Required fields are marked *