Rallis net declines 6% to Rs 80 cr

Rallis India, an arm Tata Chemicals, on Tuesday reported a 5.88 percent decline in consolidated profit in the second quarter at Rs 80 crore over the same period last fiscal. Net declined despite the company recording a growth of 14.5 percent in consolidated revenue at Rs 749 crore over the same period last year.

"We could deliver improved performance, thanks to the strong growth in international business. Domestic business could overcome the challenges of delayed monsoons. We are satisfied that our investment for growth amidst a scenario of raw material challenges and margin pressure has yielded positive result with growth in revenue of over 11 percent," Rallis India managing director Sanjiv Lal said. Capacity expansion at Dahej is progressing and is on schedule, he added.

"Capacity expansion of the first phase of metribuzin (a herbicide), which was around 500 tonnes per annum has been completed and production started. The second phase comprising an additional 500 tonnes per annum is on track and expected to be up and running by December," he added. "With the best monsoons in 25 years and good availability of water in reservoirs accompanied with positive farmer sentiments, the rabi outlook looks promising," he added..