New Delhi, Oct 20 (PTI) Shares of agrochemicals firm Rallis India on Wednesday tumbled 7 per cent after the company reported a 32.53 per cent decline in consolidated profit after tax (after exceptional items) during the September quarter.

The stock declined 7 per cent to close at Rs 282.45 on BSE. During the day, it tanked 7.78 per cent to Rs 280.05.

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On NSE, it tumbled 6.81 per cent to settle at Rs 283.40.

Rallis India, a Tata group company, on Tuesday reported a 32.53 per cent decline in consolidated profit after tax (after exceptional items) to Rs 56 crore during the September quarter, mainly due to erratic monsoon season.

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The PAT for the corresponding quarter of the previous financial year stood at Rs 83 crore, Rallis India said in a statement.

The company recorded a modest growth of 0.4 per cent in revenue during the quarter under review at Rs 728 crore compared to Rs 725 crore in the same period of 2020-21.

"The erratic monsoon season this year was not favourable to agri input companies in the last quarter. In this backdrop, our domestic crop care business grew by 3 per cent, but the seeds business declined by 65 per cent.

"The drop in the seeds business was due to the changes in cropping patterns witnessed across the country as well as the proliferation of spurious cotton seeds. The overall good cumulative rainfall witnessed in Kharif also augurs well for the upcoming Rabi agricultural season," Rallis India Managing Director and CEO Sanjiv Lal said.

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