AgroPages-Rallis India sales declined 3% in Q3-Agricultural news

Rallis India recorded revenues of INR 3,850 million for the quarter ended 31st December, 2014, down 2.8% compared with same period of last year. Profit before tax was at INR 360 million and EBITDA was at INR 500 million. Net Profit after minority interest was at INR 250 million.

“I’m pleased that we set a new milestone of gross sales INR 15,000 million till date and INR 4,000 million for the third quarter. The quarter saw reduced farmer sentiments due to impacted Kharif yields and low prices of key crops. Deficiency in NE monsoon also reduced the crop acreages in Andhra Pradesh, Maharashtra and Gujarat. Our strong brands and effective farmer relationship programs drove our market performance along with the new product introductions notably ORIGIN, HUNK, EPIC & BLEND. We have continued our focus on working capital and placing stocks to align with market requirement. International business also contributed well though there have been competitive pressures and softening in demand. We have encouraging response to our new introduction in hybrid corn and paddy seed,” commented Mr. V Shankar, Managing Director and CEO of Rallis India.