Dhanuka Agritech Q1 profit inches up to Rs 49cr; revenue rises 10pc to Rs 410cr

Dhanuka Agritech's net profit inched up by 1 per cent to Rs 49.11 crore for the quarter ended June compared to the year-ago period, the company said on Wednesday. Total income grew by 10 per cent to Rs 409.58 crore in the first quarter of this fiscal from Rs 371.54 crore in the corresponding period of FY22, the Gurugram-based company said in a statement.

On the Q1 performance, Dhanuka Agritech Chairman R G Agarwal said: "This year, the rainfall has been very uneven and although the overall rainfall is above average, East and North regions have suffered from very less rainfall whereas South and West have seen unprecedented rains resulting in flooding. This impacted the 1st Quarter of the company."

Now, the rainfall has covered most of India in July except for the eastern region, therefore, we expect that rest of the year should be good for the company, he added.

Dhanuka Agritech said it will continue to focus on introducing new products in the market to cater to the growing needs of farmers.

"We have launched two such products in June. The pipeline is strong for the remaining quarters of FY'23. We would soon be launching a nationwide campaign to acknowledge and salute the contribution of our hardworking farmers," Agarwal said.

Dhanuka Agritech is also committed to bringing new technologies into the agriculture sector. It is also conducting training programmes across the country for farmers to showcase these new technologies and how to use them.

Dhanuka Group has three manufacturing units located in Gujarat, Rajasthan, and Jammu & Kashmir.