Crop protection company Insecticides (India) Ltd on Thursday reported a 14.5 %jump in net profits at Rs 107.02 crore for FY22, as compared to Rs 93.43 crore in the previous fiscal.
Net profit for Q4 stood at Rs 22.39 crore in comparison to Rs 21.95 crore in Q4 of last year. Total income from operations stood at Rs. 1504 crore, compared to Rs. 1420 crore in the year-ago period, with a growth of about 6%.
“The company is on a steady upward trajectory with new additions and their acceptability in the market. The introduction of new products adds depth to our market offering and also helps us to broaden our reach. We anticipate that our performance will follow the same steady pattern in the coming years as well,” said Rajesh Agarwal, managing director, Insecticides (India) Ltd.
He added “The company is confident in its R&D team’s ability to consistently develop new product offerings that meet market demands. Our team of crop advisors has been working hard to educate the farmers, which have benefited millions of farmers. I am confident that the IIL team will lead the organization to new heights. We believe in what we’re doing, and we’re looking forward to an exciting year ahead filled with new chances and challenges. I would also like to mention good growth in the export this year and crossing the 100 Crore mark. With the support of our customers, vendors, channel partners, and other key stakeholders, we are committed to achieving our objectives with zeal and commitment.”
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