Aries Agro Ltd Q1FY24; 28% fall in Profits

Aries Agro Ltd was founded by Dr. T. B. Mirchandani and Mrs. Bala Mirchandani in 1969. It started activity by manufacturing a small range of mineral feed additives for animals & birds and then diversified into mineral additives for the agriculture use. In 1975, it diversified into nutrients for plants with the introduction of Chelated Micronutrients. It pioneered the concept of Chelates in India with the introduction of “Agromin”, a micronutrient fertilizer in the year 1975, followed by “Chelamin” in 1976. Agromin (chelated micronutrients) and Chelamin (chelated zinc) are the company’s flagship brands. It is one of the leading manufacturers and sellers of Chelates in the Country

Financial Results:

Aries Agro Ltd reported Revenues for Q1FY24 of ₹107.37 Crores down from ₹115.79 Crore year on year, a fall of 7.27%.

Total Expenses for Q1FY24 of ₹100.15 Crores down from ₹104.68 Crores year on year, a fall of 4.33%.

Consolidated Net Profit of ₹4.62 Crores down 27.59% from ₹6.38 Crores in the same quarter of the previous year.

The Earnings per Share is ₹3.65, down 32.28% from ₹5.39 in the same quarter of the previous year.

*It is important to note that the way the results have been accounted for are slightly different than the ones the companies may choose to publish.

*The presented data is automatically generated. It may occasionally generate incorrect information.