The company’s PAT stood at Rs 63 crore during the corresponding quarter of the previous fiscal, Rallis India said in a regulatory filing. Photo: Shutterstock
Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a 23.80 per cent decline in profit after tax to Rs 48 crore in the quarter ended June 30, compared to the same period in the previous financial year.
The company’s PAT stood at Rs 63 crore in the corresponding quarter of the previous fiscal, Rallis India said in a regulatory filing.
Revenue from operations remained flat at Rs 783 crores in the quarter under review, as compared to Rs 782 crores in the same period of the previous year.
The Crop Care business delivered strong volume-driven revenue growth of 8 percent. Seed revenue declined by 16 percent, largely due to supply constraints. Despite the market challenges, concerted actions were taken to increase margins through improved product mix and dynamic pricing, it said.
“We remain cautious on the export market and expect a gradual recovery during the year. Sentiments for the domestic market are positive with the recent monsoon revival. In the long term, customer centricity will remain a key driver and we will continue to provide differentiated solutions to meet the diverse needs of farmers. We will further intensify our efforts to build capabilities in manufacturing, digitalisation and leveraging partnerships and alliances,” he added.
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First print: Jul 19, 2024 | 12:35 PM IST