Rallis India Q1 profit after tax rises 53% to Rs 92 cr, revenue up 6%

Rallis India, a subsidiary of Tata Chemicals, on Wednesday reported a 53 per cent growth in consolidated profit after tax (PAT) at Rs 92 crore during the first quarter of 2020-21.

The company's PAT stood at Rs 60 crore in April-June quarter of 2019-20, Rallis India said in a statement.

The company recorded a growth of 6 per cent in consolidated revenue at Rs 663 crore for the quarter under review as against Rs 623 crore in the same quarter of FY20.

"With timely arrival of the monsoons and positive farmer sentiment, agricultural activity has picked up well. With the ongoing pandemic situation, we are taking all the safety measures at the organisation level as per the government guidelines.

"We have registered a 13.5 per cent revenue growth during Q1 for domestic crop care business on account of robust demand and a 3 per cent revenue growth in seeds sales over the previous year despite the challenges faced," Rallis India Managing Director and CEO Sanjiv Lal said.

Going forward, the company expects domestic demand to remain buoyant for crop care products, and exports to gradually pick up as well, he added.