Verde Agritech (TSE:NPK) has released an update.
Verde Agritech Ltd reported lower financial results for Q1 2024, influenced by El Niño’s impact on Brazil’s agricultural cycle, which disrupted planting schedules and decreased fertilizer demand. This downturn contrasts with the strong results of the previous years, which were buoyed by high agricultural commodity prices and geopolitical tensions. Despite the recent dip, the company’s Q1 2024 sales and revenue still showed a substantial increase compared to Q1 2021, indicating a positive long-term trend.
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