Rallis India gains after good Q2 earnings

Rallis India rose 3.34% to Rs 164.10 at 9:53 IST on BSE after consolidate net profit rose 21.42% to Rs 74.75 crore on 24.07% growth in total income from operations to Rs 602.40 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced after market hours on Monday, 21 October 2013.

Meanwhile, the S&P BSE Sensex was up 23.80 points or 0.11% at 20,917.69.

On BSE, 18,000 shares were traded in the counter as against average daily volume of 97,000 shares in the past two weeks.

The stock hit a high of Rs 164.45 and a low of Rs 159.25 so far during the day.

Commenting on the company's Q2 performance, Mr. V Shankar, Managing Director and CEO, Rallis India said, "I am happy that we have established new milestones with revenues crossing Rs 1000 crore and PAT over Rs 100 crore recording a healthy growth. Our continued focus on connecting with farmers through Rallis Kisan Kutumba initiatives, strong brands and value creating initiatives in agri space has contributed to strong performance in this Kharif Season. There were shifts in farmer preferences for crops and Rallis, with the help of a strong understanding of the field level changes, moved with agility to the dynamic circumstances. Our focus on the new initiatives continued with vigor with MoPu reaching out to more than 25,000 farmers and 60,000 acres in the current season in Maharashtra, Madhya Pradesh, Karnataka & Tamil Nadu. Our new products in the Plant Growth Promoter segment did well and our key brands recorded good growth".

Rallis India is one of India's leading agrochemicals companies, with a comprehensive portfolio of crop-care solutions.

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