04 August 2022, New Delhi: Dhanuka Agritech has reported financial results for the first quarter of 2022-23 financial year. The company has recorded Rs 49.11 crore profit during April-June quarter of FY’23, up 1.05 per cent from the same quarter of the previous fiscal year.
Total income grew 10 per cent to Rs 409.58 Crores in the first quarter of this fiscal from Rs 371.54 crore in the corresponding period of FY’22.
Financial Performance (In Rs crore)
|Profit After Tax (PAT)||49.11||48.60||1.05|
Good season expected ahead
Commenting on the Q1 performance, Dhanuka Agritech Chairman R G Agarwal said: “This year, the rainfall has been very uneven and although the overall rainfall is above average, East and North region has suffered from very less rainfall whereas South and West has seen unprecedented rains resulting in flooding. This impacted the 1st Quarter of the Company. Now, the rainfall has covered most of India in July except for the East region, therefore, we expect that rest of the year should be good for the Company.″
5 Product launches in FY23
“The company has launched two new products Cornex (Herbicide), Terminal (Herbicide) and Zanet (Fungicide) in Q1. The pipeline is strong for the remaining quarters of FY’23. We would soon be launching a nationwide campaign to acknowledge and salute the contribution our hardworking farmers,” Mr. Agarwal said.
Other products scheduled to be launched are ‘Decide’ (Technical: Etofenprox + Diafenthturon) for control of thrips in cotton and chilly, to be launched in Q2. A PGR and about three 9(4) herbicides are expected to be launched in the coming quarters.
The firm targets to launch 8 new products in next 2 years.
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