Nagarjuna Agrichem Q2 net dips 26 per cent

NEW DELHI: Nagarjuna Agrichem on Thursday reported 26 per cent dip in net profit for the quarter ended September 30, 2010 to Rs 12.66 crore due to a decline in sales.

The Hyderabad-based firm had reported a net profit of Rs 17.19 crore in the corresponding quarter last fiscal, Nagarjuna Agrichem said in a stock exchange filing.

Net sales of the company decreased by 7.3 per cent to Rs 186.84 crore from Rs 201.74 crore recorded in quarter ended September 31, 2009.

The dip in sales is mainly due to a Rs 40 crore fall in exports in the reporting quarter to Rs 30 crore, the filing added.

However, domestic sales have improved by Rs 26 crore to Rs 156.74 crore during the quarter under review over the same quarter last year.