AgroPages-Meghmani Organics agrochem sales up 37% in Q2-Agricultural news

Meghmani Organics agrochem sales up 37% in Q2

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Indian company Meghmani Organics’ agrochemical sales increased by 37.2% to Rs. 1127.28 million in the second quarter of the year 2013-14 which ended September 30, 2013. Domestic sales increased by 27.6% to Rs. 398.96 million. Revenue derived from export sales in the second quarter increased by 43.1% to Rs. 728.32 million.

Gross profit for the second quarter was boosted by 52.1% to Rs. 168.27 million and gross profit margin increased from 13.5 % in Q2 FY 2013 to 14.9% in Q2 FY 2014 due to increase in sales.

Half-year result

For the half-year of fiscal year 2014, sales of agrochemicals were up 12.3% to Rs. 2035.67 million compared with the same period of last fiscal year. Domestic sales slipped a little by 3.5% to Rs. 567.79 million, while the export sales posted a 20% increase to Rs. 1467.88 million. Gross profit declined by 10.0% to Rs. 216.45 million.