Nagarjuna Agrichem Q1 net profit down 14% at Rs 1.97 cr

Nagarjuna Agrichem today posted 13.97 per cent fall in net profit at Rs 1.97 crore in the first quarter of this fiscal.

Net profit stood at Rs 2.29 crore in the year-ago period, the company said in a BSE filing.

Net income rose to Rs 186.56 crore in the April-June period of the 2017-18 fiscal from Rs 182.84 crore in the year-ago period.

"GST transition is one of the constraints that have dampened the sales in first quarter," the company said.

Nagarjuna Agrichem, however, said the exports are showing positive signs and domestic market is also expected to do well this year due to good monsoon.

The Hyderabad-based company has plans to launch couple of new products in the next quarter, it added.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)