Best Agrolife Q2 Profit Down 27% to Rs 95 Crore - Business News

New Delhi, Nov 8 (PTI) Agrochemical firm Best Agrolife on Wednesday reported a 27 per cent decline in its consolidated net profit to Rs 95 crore for the second quarter of this fiscal year.

Its net profit stood at Rs 130 crore in the year-ago period.

Revenue from operations rose 16 per cent to Rs 811 crore during the July-September period of this fiscal year from Rs 700 crore in the corresponding period of the previous year, the company said in a statement.

"Despite the challenging external environment, we have maintained a strong growth trajectory, with revenue from operations surging by 32 per cent sequentially to reach Rs 811 crore," Vimal Kumar, Managing Director of Best Agrolife Ltd, said.

The company's profit margins remain resilient, driven by an improved product mix, he said.

"The consistent demand for our products has shielded us from pricing pressures that generic agrochemicals are grappling with," Kumar said.

Notwithstanding the industry's anticipated challenges in the forthcoming quarters, he said, the company's differentiated product portfolio would help in meeting the guidance of achieving close to 25-30 per cent growth.

At present, Best Agrolife has 7,000 tonnes per annum and 30,000 tonnes per annum technical and formulation manufacturing capacity, respectively, through three of its manufacturing plants in Gajaraula, Greater Noida, and Jammu & Kashmir.