Rallis India's net profit falls 13.3 pc to Rs 39.6 cr in Dec quarter

The seeds industry continued to face headwinds due to restrictions for the sale of paddy and maize hybrids in some states, he noted.Supply chain challenges continued in the third quarter, with availability being a challenge for certain intermediates and steep inflation in prices, Lal said.Shares of Rallis India Ltd on Wednesday settled at Rs 294.65 apiece on the BSE, up 2.61 per cent from the previous close.

Rallis India Ltd, a subsidiary of Tata Chemicals, on Thursday reported a 13.3 per cent fall in its consolidated net profit to Rs 39.56 crore for the third quarter ended December 2021.

It had posted a net profit of Rs 45.64 crore in the October-December quarter last fiscal, Rallis India Ltd said in a regulatory filing.

Its revenue from operations during October-December 2021 jumped 10.1 per cent to Rs 628.08 crore, against Rs 570.47 crore in the year-ago period.

Rallis India's total expenses rose 13.3 per cent to Rs 580.50 crore, compared with Rs 522.18 crore a year ago.

"The erratic monsoon season this year has not favoured agri input companies as excessive rainfall continued into the third quarter in the southern states. Despite these challenges, our domestic crop care business grew at 9.4 per cent, and exports by 19 per cent during the quarter,'' Rallis India Managing Director and CEO Sanjiv Lal said. The seeds industry continued to face headwinds due to restrictions for the sale of paddy and maize hybrids in some states, he noted.

Supply chain challenges continued in the third quarter, with availability being a challenge for certain intermediates and steep inflation in prices, Lal said.

Shares of Rallis India Ltd on Wednesday settled at Rs 294.65 apiece on the BSE, up 2.61 per cent from the previous close.

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