By: ICN Bureau
Last updated : October 15, 2024 9:19 pm
Revenue increases 11% to Rs. 928 crore
Rallis India, a subsidiary of Tata Chemicals, reported a 21 per cent growth in net profit during the quarter ending September 30 to Rs 98 crore compared to Rs. 82 crore during the corresponding quarter of the previous fiscal year.
Announcing the results, Dr Gyanendra Shukla, Managing Director & CEO, Rallis India Limited, said, “Strong domestic demand with above normal monsoon and better commodity prices. Volume recovery in international market although pricing continues to be muted.
“We had a strong Q2’ FY25 performance helped by double digit growth in the domestic market, both in the Crop Care and Seeds business. Revenue increased by 11% to reach ₹928 Cr and Profit after Tax increased by 21% to reach Rs. 98 crore. Domestic Crop Care delivered volume led revenue growth of 11% with prices impacting overall realization. Seeds revenue was up by 48% due to better Kharif liquidation. International business had volume recovery though prices continue to be a challenge.
“Our efforts will continue to be directed towards improving market share in domestic business. We remain positive for the upcoming Rabi season with higher reservoir water levels. Hybrid Seeds Production acres and cost continues to be a concern. Customer and product base expansion will remain a focus for international business.
“On a long-term basis, Customer Centricity will be a key thrust, and we will continue to offer differentiated solutions to solve varying farmer needs. We will further intensify our efforts to build capabilities in Digital and leverage Collaborations and Alliances.”