Dhanuka Agritech Reports Impressive 48.45% PAT Growth in Q1FY24

Dhanuka Agritech, an agrochemicals company, has reported a 48.45% growth in profit after tax (PAT) to Rs 48.90 crore in Q1FY24, up from Rs 32.94 crore in the same quarter last year. The company also saw a 33.73% growth in revenue, influenced by positive market conditions and a favorable monsoon.

Dhanuka Agritech, a leading agrochemicals company, reported a remarkable 48.45% increase in its profit after tax (PAT) for the first quarter of the fiscal year 2024. The PAT for the June quarter stood at Rs 48.90 crore, a significant rise from Rs 32.94 crore during the same period last year, according to a company statement.

The company also noted an impressive 33.73% growth in revenue from operations, which soared to Rs 493.58 crore in Q1FY24. This growth was attributed to a surge in demand across all product categories, supported by the timely arrival of the monsoon and reduced inventory levels.

Mahendra Kumar Dhanuka, Vice Chairman and Managing Director of Dhanuka Agritech, commented on the positive market trends and expressed confidence in maintaining healthy growth and improving EBITDA margins in the upcoming quarter. Company shares closed 4.83% higher at Rs 1,819.15 each on the BSE.

(With inputs from agencies.)