Rallis India shares drop over 5% on disappointing March quarter earnings

The scrip of agriculture solutions firm Rallis India dropped over 5 per cent Friday after the company reported a 93 per cent fall in consolidated net profit for the fourth quarter of 2018-19.

Shares of the company dropped 4.86 per cent to Rs 149.55 on the BSE.

At the NSE, shares declined 5.41 per cent to Rs 149.25.

Rallis India on Thursday reported a 93 per cent fall in consolidated net profit at Rs 1.35 crore for January-March 2019 due to poor sales.

The firm had posted a net profit of Rs 19.58 crore in the corresponding period a year ago, it said in a BSE filing.

 

Total income declined to Rs 350.64 crore during the quarter ended March from Rs 372.66 crore in the year-ago period.