Dhanuka Agritech Q4 net profit falls 2%

NEW DELHI: Agro-chemicals manufacturers DhanukaAgritech today reported a marginal fall of 2 per cent in standalone net profit at Rs 17.86 crore for its fourth quarter ended March 31 on account of higher tax expenses.

It had posted net profit of Rs 18.23 crore in the same quarter last fiscal, the company said in a filing to BSE.

The profits fell as the company's tax expenses more than doubled to Rs 5.26 crore during the quarter of 2012-13 fiscal, from Rs 2.73 crore in the year-ago period.

However, total income from operations increased slightly to Rs 132.80 crore from Rs 130.09 crore in the same period last fiscal.

Besides agro-chemicals, Dhanuka Agritech manufactures fertilisers and seeds.

For the entire 2012-13 fiscal, the net profit increased to Rs 64.45 crore from Rs 57.13 crore in 2011-12.

Total income rose to Rs 586.92 crore last fiscal, as against Rs 529.30 crore in 2011-12.

The company's Board has recommended a dividend of 65 per cent at the rate of Rs 1.30 per equity shares for the 2012-13 financial year.

Dhanuka Agritech scrip was slightly up at Rs 129 in the late trading hours on the BSE.