Mumbai, July 24 (ANI): Rallis India Limited, a TATA Enterprise player in the Indian crop protection industry, has announced its financial results for the quarter ended June 30.
During the quarter, Rallis India registered net sales of Rs. 464 crores, a crore less than the previous year.
Profit After Tax (PAT) was recorded at Rs. 33 crores, a drop of Rs.4 crores over the previous year.
Metahelix, the seeds entity, registered a handsome sales growth of 26 percent to scale Rs. 231 crores.
Commenting on the performance and developments, Mr. V Shankar, Managing Director and CEO, Rallis India said, “The domestic season commenced well in the latter half of June and also now in July with good rainfall in most parts of the country. Sowing of crops picked up well and a positive sentiment has developed amongst farmers across the country.”
“Due to adverse climatic conditions and lower crop commodity prices globally, there has been lower requirement of certain products in the international market. This impacted off take of some key products and we expect pick up in the second half of the year,” he added.
During the quarter, the company had also introduced two new molecules “Panida Grande” and “Mark”, both pre-emergent herbicides in the cotton and soybean segment respectively. (ANI)