The Hindu Business Line : Rallis India profit up 10% in Q2

Mumbai, Oct. 14 Rallis India, a Tata enterprise, has registered a 10 per cent rise in net profit at Rs 46 crore for the quarter ended September 30, against Rs 42 crore in the same period last year.

Sales rose 13 per cent to Rs 317 crore (Rs 280 crore). The rigorous focus on reducing working capital has resulted in the lowest ever interest cost of Rs 78 lakh during the quarter, the company said in a press release on Wednesday.

Several strategic initiatives such as launch of new products, focus on select markets and tight cost-control helped the company achieve growth in profit, said the release.

Mr V. Shankar, Managing Director, said the company has managed to surpass quarterly sales of Rs 300 crore for the first time despite the challenging business environment.

“The progress of the South-West monsoon has been much below normal till September-end, severely impacting kharif crop acreage and crop health in many areas. The heavy rains during the first week of October will have a positive impact for the rabi season,” he added.

The company shares on the BSE were up 0.72 per cent at Rs 983 on Wednesday.

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