Mumbai, Jan 18 (PTI) Tata group firm Rallis India on Wednesday reported a 43 per cent decline in its December quarter net profit at Rs 22.55 crore.

The company's net profit stood at Rs 39.55 crore in the year-ago period, it said in a regulatory filing.

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Revenue from operations marginally rose to Rs 630.39 crore during the October-December period compared to Rs 628.08 crore in the same period of the previous fiscal.

"Our third quarter revenues witnessed 0.3 per cent growth over last year. This has been in the backdrop of erratic rainfall in the domestic market and headwinds in international business. During the quarter, our domestic crop protection business grew by 7.7 per cent, crop nutrition business by 22 per cent," Rallis India Managing Director and CEO Sanjiv Lal said.

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Exports declined by 6.5 per cent, primarily due to inventory build-up at the customer end, he added.

"Our long-term focus continues to be investing in growth through new product introduction, expanding our retail footprint, and investing in flexible multipurpose manufacturing plants for our new product pipeline," Lal added.

On Wednesday, shares of the company settled 2.66 per cent down at Rs 245.50 apiece on the 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)