Rallis India posts 37% dip in Q4 net profit at Rs 19 cr

Rallis India yesterday reported a decline of about 37 per cent in its consolidated net profit at Rs 19.58 crore for the quarter ended March of 2017-18. The Tata group firm had posted a net profit of Rs 31.01 crore in the same period a year ago, the company said in a BSE filing.

The total income marginally increased to Rs 373.84 crore during the period as against Rs 371.85 crore during quarter ended March 31, 2017.

Expenses rose to Rs 348.65 crore from Rs 340.33 crore earlier.

For the year ended March 31, 2018, the company reported a decline in its consolidated net profit to Rs 167 crore compared to Rs 297.07 crore at the end of 2016-17.

The company's total income rose to Rs 1,821.64 crore during the period as against Rs 1,780.99 crore at the end of 2016-17.

V Shankar, managing director and CEO of Rallis India, said: "Northeast monsoon which was forecasted to be normal ended at below 11 per cent departure. Overall, the Rabi cropping acreages were down by 1 per cent while paddy and pulses improved, wheat acreages were down over last year. Our suite of solutions has enabled us to help farmers in multiple crops and notably in paddy which has registered significant growth".