Insecticides India Q2 profit up 13 per cent

Agrochemical company Insecticides India's profit after tax for the quarter ended September stood at Rs 49 crore, up by 13.6 per cent from the corresponding quarter of the previous year.

Its operating revenue increased to Rs 861 crore from Rs 777 crore in H1 FY2019, a growth of 10.8 per cent on year-on-year basis. The company's EBITDA increased by 8.3 per cent to Rs 135 crore from Rs 125 crore as compared to the same period last year.

Insecticides India's Managing Director Rajesh Agarwal said that the domestic economy in Q2 FY2020 continued to face headwinds which were present at the beginning of the fiscal year. Due to broad based slowdown in rural demand, the impact of the slowdown was visible in the agrochemicals sector as well.