Agriculture solutions firm Rallis India on Monday posted a marginal drop in consolidated net profit at Rs 249.4 million for the December quarter. The Tata Group firm had clocked a net profit of Rs 253.4 million in the same quarter last financial year.
Net income jumped to Rs 3.94 billion during the October- December period of the current fiscal from Rs 3.52 billion in the year-ago quarter, the company said in a BSE filing.Expenses rose to Rs 3.66 billion from Rs 3.20 billion earlier. “Our broad based portfolio of solutions and robust farmer relationship have been instrumental in driving our revenue growth during the quarter,” Rallis India CEO and Managing Director V Shankar said. Despite market challenges and pricing pressure, the quality of operations stood ground driven by 'Rallis Samrudh Krishi' and the digital initiatives, he said.