Rallis India drops after weak Q3 results

Rallis India lost 3.7% to Rs 220.20 at 11:21 IST on BSE after consolidated net profit fell 16% to Rs 25.49 crore on 2.9% fall in total income to Rs 390.33 crore in Q3 December 2014 over Q3 December 2013.

The announcement was made after market hours yesterday, 20 January 2015.

Meanwhile, the BSE Sensex was up 60.99 points or 0.21% at 28,845.66

On BSE, so far 82,856 shares were traded in the counter, compared with an average volume of 34,860 shares in the past one quarter.

The stock hit a high of Rs 223.60 and a low of Rs 213 so far during the day. The stock hit a record high of Rs 254.45 on 10 October 2014. The stock hit a 52-week low of Rs 151.05 on 25 February 2014.

The stock had outperformed the market over the past one month till 20 January 2015, surging 5.86% compared with Sensex's 5.16% rise. The scrip, however, underperformed the market in past one quarter, rising 5.81% as against Sensex's 8.91% rise.

The mid-cap company has an equity capital of Rs 19.44 crore. Face value per share is Re 1.

Rallis India's consolidated profit before tax fell 23.4% to Rs 36 crore in Q3 December 2014 over Q3 December 2013. Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) fell 13.79% to Rs 50 crore in Q3 December 2014 over Q3 December 2013.

Commenting on the performance and developments, V Shankar, Managing Director and CEO, Rallis India said The quarter saw reduced farmer sentiments due to impacted kharif yields and lower prices of key crops. Deficiency in NE monsoon also reduced the crop acreages in Andhra Pradesh, Maharashtra and Gujarat.

Rallis India, a Tata Group firm is engaged in the business of manufacturing of crop protection chemicals.

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