Rallis India shares fall 5.5% as Q3 earnings disappoint

Shares of agro-chemicals firm Rallis India today fell by 5.5 per cent after the company reported 16 per cent decline in consolidated net profit for the quarter ended December 31, 2014.
Rallis India's scrip plunged 5.47 per cent to end at Rs 216.15 on the BSE. During the day, it lost 6.84 per cent to Rs 213.
On the NSE, it settled 5.26 per cent lower at Rs 217.
In terms of volume, 1.26 lakh shares of the company changed hands at the BSE, while over 10 lakh shares were traded at the NSE during the day.
Tata group firm Rallis India had yesterday reported 16 per cent decline in consolidated net profit at Rs 25.49 crore for the quarter ended December 31, 2014 on lower sales.

Its net profit stood at Rs 30.35 crore in the year-ago period.

Total income from operations declined to Rs 389.47 crore in the third quarter of the current fiscal as against Rs 400.76 crore in the corresponding period of the previous year, Rallis India had said in a filing to the BSE.
Expenditure remained flat at Rs 351.62 crore during October-December 2014 as against 352.05 crore in the year-ago period.
Rallis India, a subsidiary of Tata Chemicals, is present in the farm inputs businesses such as seeds and agro-chemicals.