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India's National Fertilizers posts quarterly profit drop on weak demand
Feb. 11, 2025
India's National Fertilizers posted a lower third-quarter profit on Monday, dragged by weak demand for its fertilizers.
The state-run agricultural chemicals maker posted a 69.6% fall in its consolidated profit to 458.1 million rupees ($5.2 million) for the quarter ended December 31, compared to 1.51 billion rupees a year ago.
Revenue fell 22.8% to 58.56 billion rupees.
Analysts believe India's agrochemical sector is set to recover in 2025 after a period of destocking, though some firms still face challenges.
Demand growth in the quarter stayed weak due to low pest infestations, favorable weather, and delayed seasonal trends, impacting sales.
The company posted a 14.5% fall in its revenue from its mainstay fertilizers business.
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