Best Agrolife Q3 net profit jump 98% to Rs 30.61 cr; revenue up 41%

Agro-chemical firm Best Agrolife Ltd has posted a 98 per cent growth in its consolidated net profit to Rs 30.61 crore for the third quarter ended December 2022.

Its net profit stood at Rs 15.47 crore in the year-ago period, according to a regulatory filing.

The company's revenue from operations rose 41 per cent to Rs 327.8 crore in the October-December period of this fiscal against Rs 232.5 crore in the corresponding period of the previous year.

Vimal Alawadhi, Managing Director of Best Agrolife, said, "...despite being a lean season, we successfully managed to remain consistent with its performance in the third quarter of this financial year".

The company has shown growth with a positive outlook across all the business segments during this period, he added.

"We are fully focussed on our global export expansion, which will start reflecting in our revenue growth soon. The company is set to introduce new and exclusive patented products like Ronfen and other different segment products, which will scale up our growth further in the next financial year," Alawadhi said.

During April-December, the net profit rose to Rs 200.55 crore against Rs 66.59 crore in the year-ago period. Its revenue from operations rose to Rs 1,492 crore from Rs 901 crore.

Best Agrolife has 7,000 tonnes per annum and 30,000 tonnes per annum of technicals and formulation manufacturing capacity, respectively, at its three manufacturing plants in Gajaraula, Greater Noida, and Jammu & Kashmir.