Basant Agro Tech Q1 net soars 55 pc to Rs 1.40 cr

Mumbai, Aug 17 (UNI) Akola-based Basant Agro Tech (India) Ltd has posted a rise of 55 per cent net profit at Rs 1.40 crore for the quarter ended June 30, 2006 as compared to Rs 90.21 lakh for the corresponding period in the previous year.

Announcing the results, the performance during the Quarter has taken a big leap over the same quarter in the previous year in respect of turn-over. The income from operations stood at Rs 24.52 crore against Rs 20.20 crore for the corresponding period in the previous year.

Meanwhile, Mr Shashikant Bhatia, Executive Director, Basant Agro Tech said,''The commendable performance by the company was mainly because of four reasons - location advantage - being present in the heart of the agriculture consuming belt has allowed the company to market its products across the state and the acquisition and commissioning of the NPK Mixture Granulated Fertilizer plant at Sangli. Added to this are success on financial and operational restructuring and secondly improvement in operational efficiencies and good monsoon and better chemistry between fertiliser and hybrid seed.'' UNI AR GB AG1808