Agrochemical firm Insecticides (India) Ltd has reported a 45 per cent increase in its net profit at Rs 6.76 crore for the fiscal third quarter that ended on December 31, 2013.
The company had clocked a net profit of Rs 4.65 crore in the corresponding period last fiscal year (FY13), it said in a filing to the BSE.
Total income during the October-December quarter rose to Rs 190.89 crore against Rs 118.83 in the year-ago period.
"Figures are encouraging for the third quarter of the financial year 2013-14. Our new products like Hakama, Pulsor, Nuvan, Xplode and Logo have also got good response from the market," IIL managing director Rajesh Aggarwal said.
He also said it is an encouraging sign for the industry that Indian farmers are adopting latest technologies.
"We expect good contribution from our new products in the next year as well."
As of 3:01 p.m., shares in IIL were trading at Rs 236.95 apiece on the BSE, down 0.46 per cent from the previous close.
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