Dhanuka Agritech Posts Q1 Net Profit Flat at INR 16 cr
Agro-chemical firm Dhanuka Agritech today posted a flat net profit at Rs 16.18 crore for the first quarter of the 2018-19 fiscal.
Its net profit stood at Rs 16.13 crore in the same quarter of the last financial year, the company said in a regulatory filing.
Net income declined marginally to Rs 221.54 crore during April-June quarter of the current fiscal from Rs 224.41 crore in the year-ago period.
Expenses remained slightly lower at Rs 200.42 crore as against Rs 201.55 crore in the said period.
Dhanuka Agritech Managing Director M K Dhanuka said, "The company's slow growth in sales and profits may be attributed to uneven distribution rainfall."
The decline in EBITDA may be attributed to low growth in topline and change in product mix, he said.
However, the company's sales have picked up very well from the first week of July at the start of the monsoon. "Our expectations for coming quarter are high considering good monsoon and our strong and superior products backed by several marketing and branding initiatives," he said in a separate statement.
The Delhi-based company's shares were trading 3.59 percent lower at Rs 568.30 apiece in the afternoon trade on the BSE today.
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