Insecticides India sales down by 22% in Q3 2014-15 due to poor monsoon

Insecticides India Ltd (IIL), the New Delhi-based agrochemicals company, has reported turnover of Rs 148.98 crore in the third quarter of this fiscal, down 22% compared to Rs 190.89 crore in the corresponding quarter of last year, due to poor monsoon. However, Insecticides India’s net profit was up 23% at Rs 8.34 crore for the quarter ending December 31, 2014 compared to Rs. 6.77 crore in the corresponding period last year.
 
Rajesh Aggarwal, managing director, Insecticides India Ltd, said, “Our result is in line with the industry as the agrochemical sector as a whole did not do well on account of poor monsoon in most parts of the country. We are very optimistic of a recovery in the fourth quarter.”
 
In the last year-on-year nine-month period, the company saw an increase in the turnover of 10% from Rs 728.85 crore to Rs 803.35 crore. The PAT has increased by 40% to Rs 48.66 crore in the nine-month period from Rs 34.78 crore in the same period previous fiscal.
 
IIL, which manufactures and markets a gamut of agrochemical products ranging from insecticides to fungicides to weedicides, provides a full basket of agrochemicals’ solutions to farmers. Its leading products are Pulsor, Hakama, Logo, Nuvan, Thimet, Lethal, Xplode, Victor, Hijack and Monocil which it calls ‘Power Brands’.