Rallis India Q1 net up 58%

Rallis India, a part of Tata Group engaged in manufacturing agrochemicals, announced a growth of 58 per cent in its net profit at Rs 14.8 crore in the first quarter ended June 30, 2010 as compared to Rs 9.4 crore in the same period last year.

The net sales from operations has registered a growth of 20 per cent at Rs 196 crore in Q1FY11 as compared to Rs 163 crore in the corresponding period a year ago.

The company gross sales stood at Rs 210 crore during April-June, 2010.

Performance of the domestic business continued in an impressive way, driven by success of the products launched by the company in recent years including new product introduced during the year Ralligold and Taarak. International Business recorded improved performance reflecting positive global trends, Rallis India Managind Director and CEO V Shankar said in a statement.

Crop protection business being seasonal in nature, first quarter numbers are relatively less significant in the years over all numbers.

Rallis India is engaged in manufacturing crop protection chemicals.

It has contract manufacturing alliances with several multinational agrochemical companies.