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Wednesday, January 20, 2016

Rallis India Q3 net dips 20% at Rs 20.41 crore

Rallis India has reported a 20 per cent fall in its consolidated net profit at Rs 20.41 crore for the third quarter ended December 31, 2015. The company had reported a net profit of Rs 25.49 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange. Total income from operations during the October-December quarter of the current fiscal declined 20 per cent to Rs 311.11 crore as against Rs 388.18 crore in the same period last fiscal, the company said in a BSE filing. Commenting on the performance, Rallis India, Managing Director and CEO, V. Shankar, said, “2015 has been a difficult year for farmers and farming, impacted by climatic turbulence the quarter saw muted farmer sentiments due to reduced kharif yields and lower prices of key crops.” Rallis India is a subsidiary of Tata Chemicals with business presence in the Farm Essentials vertical. Meanwhile, shares of the company were trading at Rs 150 apiece, down 4.97 per cent from the previous close at 12:35 hours on BSE.