Dhanuka Agritech reported a strong 48.45% rise in profit after tax to Rs 48.90 crore in the June 2024 quarter, driven by increased demand and a positive monsoon.
Mumbai, Aug 2 (PTI) Agrochemicals company Dhanuka Agritech on Friday reported a 48.45 per cent growth in profit after tax to Rs 48.90 crore during the June 2024 quarter.
The company's profit after tax (PAT) stood at Rs 32.94 crore during the corresponding quarter of the previous financial year, Dhanuka Agritech said in a statement.
Its revenue from operations grew 33.73 per cent during the quarter under review to Rs 493.58 crore compared to Rs 369.07 crore in the year-ago period.
"The year has started on a positive note and we have witnessed decent demand for all our product categories during the first quarter.
"The timely arrival of the monsoon and dwindling inventory levels have contributed to increased orders from the distribution network, setting a positive trajectory for the company," Dhanuka Agritech Vice Chairman and Managing Director Mahendra Kumar Dhanuka said.
The sowing season is in full swing in July and the sowing acreages for major crops are expected to be higher in the ongoing season, particularly in the wake of the prediction of a normal monsoon, he said.
"The management is confident of delivering healthy growth in the second quarter and improving the EBITDA margins," Dhanuka added.
Shares of the company on Friday closed 4.83 per cent higher at Rs 1,819.15 apiece on the BSE.
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