Rallis India tumbles after weak Q3 results

Rallis India lost 5.26% to Rs 256.90 at 11:59 IST on BSE after consolidated net profit fell 1.6% to Rs 24.94 crore on 18.6% growth in net sales to Rs 390.16 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 22 January 2018.

Meanwhile, the S&P BSE Sensex was up 265 points or 0.74% at 36,063.01. The S&P BSE Mid-Cap index advanced 1.24%, outperforming the Sensex.

On the BSE, 1.19 lakh shares were traded on the counter so far as against average daily volumes of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 260.75 and a low of Rs 254 so far during the day. The stock had hit a 52-week high of Rs 289.40 on 27 December 2017 and a 52-week low of Rs 205 on 28 September 2017.

The mid-cap company has equity capital of Rs 19.45 crore. Face value per share is Rs 1.

V Shankar, Managing Director and CEO, Rallis India said that the company's broad based portfolio of solutions and robust farmer relationship have been instrumental in driving its revenue growth during the quarter. The company's performance in the international business continues to be better than last year due to improving situation in key markets such as Brazil and strong demand for herbicides.

Rallis India is one of India's leading crop care solution companies.

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