Latest News | Rallis India Q3 Net Profit Dips by 54.16 Pc to Rs 11 Cr

Mumbai, Jan 17 (PTI) Rallis India, a Tata Enterprise, on Friday reported a 54.16 per cent on-year decline in net profit to Rs 11 crore for the quarter ended December 31, 2024.

The company's net profit stood at Rs 24 crore during the corresponding period of the previous financial year, Rallis India said in a regulatory filing.

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Revenue from operations witnessed a 12.70 per cent decline during the quarter under review at Rs 522 crore, compared to Rs 598 crore in the same period of the previous fiscal.

"Domestic business registered volume growth in the backdrop of intense market competition. I am pleased with the growth in the biologicals and specialty solutions business, which has grown by 13 per cent. Seeds business revenue was Rs 30 crore, as against Rs 32 crore in Q3 of previous year," Rallis India Managing Director and CEO Gyanendra Shukla said.

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Exports business continued to face headwinds with business registering a de-growth of 38 per cent resulting in overall revenue de-growth of 13 per cent and drop in profitability, he said.

"Our efforts will continue to be focused on improving market share in the domestic business underpinned by the growing segments of seeds, herbicides and biologicals and specialty solutions. We have planned new differentiated product launches to serve the varying needs of farmers," he added.

Shares of the company on Friday closed at Rs 289.75, up 0.52 per cent on BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)