Agrochemical manufacturer Insecticides (India) Ltd (IIL) has announced 31.38 per cent rise in its net profit to ₹12.31 crore during October-December quarter of 2023-24 fiscal, as against ₹9.37 crore in the corresponding quarter of the previous year.
Consolidated revenue (excluding other income) of the company was almost flat at ₹357.94 crore (₹356.53 crore), IIL said in a statement.
In the first nine months of FY24, IIL recorded ₹1,693.88 crore in revenue (₹1,499.43 crore), the statement said.
“IIL’s strategic focus on enhancing the mix of value-added products, including Hachiman, Torry, and Shinwa, in the past two years has contributed to the upward trajectory. In current quarter, IIL has launched two new products — Million, a herbicide for wheat, and Nirog, a bio fungicide,” the statement said.
Rajesh Aggarwal, Managing Director of IIL said: “We continue to witness growth across our product portfolio, driven by R&D and backward integration initiatives. Our focused marketing efforts and brand-building activities have yielded positive results despite of odds of the season. We remain committed to sustainable growth.”