Rallis India, a subsidiary of Tata Chemicals has reported a 53 per cent growth in consolidated profit after tax (PAT) at Rs 92 crore during the first quarter of 2020-21 as against Rs 60 crore in the corresponding period of FY20.

 

 

 

"With timely arrival of the monsoons and positive farmer sentiment, agricultural activity has picked up well. With the ongoing pandemic situation, we are taking all the safety measures at the organisation level as per the government guidelines.

 

"We have registered a 13.5 per cent revenue growth during Q1 for domestic crop care business on account of robust demand and a 3 per cent revenue growth in seeds sales over the previous year despite the challenges faced," Rallis India Managing Director and CEO Sanjiv Lal said.

 

Going forward, the company expects domestic demand to remain buoyant for crop care products, and exports to gradually pick up as well, he added.

 

In another recent development, Rakesh Jhunjhunwala bought an additional 725,000 equity shares of the company during the April-June quarter thereby increasing his overall stake to 10.31% from 9.93% earlier.