Rallis India Q3 net profit up 38%

Tata group's agrochemical firm Rallis India today reported a 38% increase in its consolidated net profit at Rs 30.39 crore for the quarter ended December, on account of higher sales.

 

The company had posted a net profit of Rs 22.03 crore in the year-ago period.

 

The company's profit rose as its revenues increased because of higher sales. Total income from operations jumped to Rs 400.49 crore during the October-December quarter of the 2013-14 fiscal compared with Rs 342.9 crore in the corresponding period of previous year.

 

Commenting on the performance, Rallis India Managing Director and CEO V Shankar said, "I am please that we have reached new highs in this quarter both in revenues and profits. ...Our new products in plant growth promoter segment did well and our key brands recorded good growth."

 

While the domestic business stood its ground with strengthening relationship through the farmer programmes, international business grew well due to robust demand of the key products, he said in a statement.

 

Shankar further said there were shifts in farmer preference for crops and the company moved with agility to cater to their changing needs.

 

Shares of the company fell by 1.08% to settle at Rs 177.80on the BSE today