Rallis India rallies on stellar Q3 performance

Rallis India surged 13.23% to 218.65 after consolidated net profit surged 176.52% to Rs 38.05 crore on 27.85% rise in net sales to Rs 533.60 crore in Q3 December 2019 as against Q3 December 2018.

Consolidated profit before tax (PBT) climbed 146.05% to Rs 48.30 crore in Q3 December 2019 from Rs 19.63 crore in Q3 December 2019. The result was announced after trading hours yesterday, 16 January 2020.

Announcing the results, Sanjiv Lal, managing director and CEO, Rallis India said, "During the current crop season our business was supported by positive farmer sentiment, new product launches and refreshed trade policies. Our international business continued to perform positively amidst certain headwinds. Our capacity expansion at Dahej is progressing well. Our investments in R&D along with new products will continue to drive our long term growth. I am pleased to announce that the Board of Rallis has approved setting up ofa new R&D facility in Bengaluru to drive further growth."

Rallis India, a TATA enterprise, is a subsidiary of Tata Chemicals, with its business presence in the farm essentials vertical. It is one of India's leading crop care companies.

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