Net profit of Dhanuka Agritech rose 44.71% to Rs 40.04 crore in the quarter ended December 2020 as against Rs 27.67 crore during the previous quarter ended December 2019. Sales rose 8.91% to Rs 295.67 crore in the quarter ended December 2020 as against Rs 271.48 crore during the previous quarter ended December 2019.

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Sequentially, the company's net profit declined by 42.9% and revenue from operations contracted 33.2% over Q2 FY21.

The demand of Group's products depends on monsoon, pest infestation and crop patterns. Hence, there may be variations in the results from one period to another period,” the company's said in its notes to accounts.

Profit before tax in Q3 December 2020 stood at Rs 54.45 crore, up by 44.7% from Rs 37.62 crore in Q3 December 2019. Current tax outgo was higher by 35% at Rs 12.95 crore in Q3 FY21 over Q3 FY20.

Dhanuka Agritech manufactures insecticides, pesticides and other chemicals. The company has technical tie-ups with 4 American and 6 Japanese companies.

The scrip shed 0.28% to currently trade at Rs 734.10. It traded in the range of 724.10 and 748 so far during the day.

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The Board of Dhanuka Agritech at its meeting held on 02 February 2021 has approved the dissolution of the wholly owned subsidiary of the company in Bangladesh. The Board also approved setting up a plant for technical manufacturing of pesticides i.e. backward integration process, at Dahej, Gujarat.

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Dhanuka Agritech will hold a meeting of the Board of Directors of the Company on 2 February 2021.

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