Insecticides India Q2 Profit Up 15% to Rs 61 Cr

New Delhi, Nov 11 (PTI) Insecticides (India) Ltd on Monday reported a 15.69 per cent jump in consolidated net profit to Rs 61.49 crore for the second quarter of the 2024-25 fiscal on lower expenses.

Its net profit stood at Rs 53.15 crore a year ago, according to a regulatory filing.

The total consolidated income declined to Rs 628.61 crore during the second quarter of the 2024-25 fiscal from Rs 695.81 crore in the year-ago period.

However, expenses remained lower at Rs 546.46 crore against Rs 624.26 crore in the said period.

Insecticides (India) Ltd Managing Director Rajesh Aggarwal said, "During the quarter, we observed firming up of raw material prices although excessive and continued rainfall resulted in lower pest infestation. The farmers delayed their spraying schedule, which adversely impacted revenue growth for the company".

He said the company achieved an H1 net profit of Rs 110 crore, surpassing the full FY24 net profit of Rs 102.36 crore.

The company's focus will remain on driving higher growth in premium products, underpinned by new product launches, more extensive demand generation and brand-building initiatives, he said.