Rallis India tanks on weak Q2 results

Rallis India tanked 6.96% to Rs 210.60 at 12:02 IST on BSE after the company's consolidated net profit fell 1.76% to Rs 73.43 crore on 6.25% rise in total income to Rs 642.71 crore in Q2 September 2014 over Q2 September 2013.

The company announced Q2 results after market hours on Thursday, 16 October 2014.

Meanwhile, the BSE Sensex was up 7.51 points or 0.03% at 26,006.85.

On BSE, so far 1.85 lakh shares were traded in the counter, compared with an average volume of 88,974 shares in the past one quarter.

The stock hit a high of Rs 225 and a low of Rs 206 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 149.75 on 29 October 2013.

The stock had underperformed the market over the past one month till 16 October 2014, falling 2.58% compared with 1.86% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 7.5% as against Sensex's 1.76% 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 rose 2.88% to Rs 107 crore in Q2 September 2014 over Q2 September 2013. Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) rose 7% to Rs 122 crore in Q2 September 2014 over Q2 September 2013.

Rallis India said that the board of directors of the company at its meeting held on 16 October 2014, inter alia, has approved the payment of Interim dividend of Rs 1 per share.

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

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