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Agriculture

Dhanuka Agritech Q1 FY23 profit grows 1.05%

The firm clocked Rs 49.11 crore profit during the April-June quarter of FY'23, up 1.05 per cent from the same quarter of the previous fiscal year
Dhanuka Agritech Q1 FY23 profit grows 1.05%
Dhanuka Agritech Q1 FY23 profit grows 1.05%

Dhanuka Agritech, one of the leading agri input companies in India, has reported financial results for the first quarter of 2022-23 financial year.

The firm clocked Rs 49.11 crore profit during the 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)

Q1FY23 Q1FY22 YoY
Total Revenue 409.58 371.54 10.25%
Profit After Tax (PAT) 49.11 48.60 1.05%

 

Briefing about the Q1 performance, RG Agarwal, Chairman, Dhanuka Agritech said, “This year, the rainfall has been very uneven and although the overall rainfall is above average, East and North regions have suffered from very less rainfall whereas South and West have seen unprecedented rains resulting in flooding. This impacted the first quarter for 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.”

Dhanuka Agritech will continue to focus on introducing new innovative products in the market to cater to the growing needs of the farmers.

“We have launched two such products in June. 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 of our hardworking farmers,” Agarwal added.

During the June quarter, the company brought two new products – Cornex and Zanet – in the market which have been very well received by the farmers.

The company is also conducting training programmes across the country for farmers to showcase these new technologies and how to use them. The company also educates farmers about the adequate and proper use of agrochemicals.

(The story is based on a press statement made by Dhanuka Agritech.)

Read more: Dhanuka Agritech bets big on drone applications in agriculture

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