 "Rallis India Q1 net profit surges four-fold at Rs 174 crore")
Tata group's agri-input firm Rallis India has reported a four-fold jump in its consolidated net profit at Rs 174.20 crore for the quarter ended June 30, 2016.
The agri-input company had posted a net profit of Rs 42.39 crore in the year-ago period.
In a BSE filing, the company posted the total income, which increased to Rs 469.61 crore during the period from Rs 438.72 crore in the corresponding period of the previous year.
Rallis India's net profit rose sharply on account of an exceptional profit of Rs 158.39 crore during the April-June quarter, comprising sale of leasehold rights of land in Navi Mumbai to Ikea India Pvt Ltd.
In March, the company entered into an agreement with IKEA India to transfer its leasehold right over a land parcel in Mumbai for a consideration of nearly Rs 214 crore.
It is a subsidiary of Tata Chemicals with business presence in the farm essentials vertical.
Also, the company is into seeds, agro-chemicals, plant growth nutrients and agri-services.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%