Rallis Q1 net sales rises 16%

Date:07-27-2012

Rallis India reported a 4.54% increase in its consolidated net profit at Rs 24.17 crore for the quarter ended June 30 against Rs 23.12 crore in the year-ago period.

The net sales registered a growth of 16% at Rs 338.31 crore in the first quarter of this fiscal compared with Rs 291.59 crore in the same period of previous year, Rallis, a leading agrochemicals firm, said in a statement.

"I am pleased that the company has grown the revenue to Rs 338.31 crore against a backdrop of delayed monsoons and kharif season progress.”

"Quarter one being primarily a placement season, we are hopeful that rainfall situation will improve and the delayed kharif will pan out well in the subsequent period for agriculture," Rallis India Managing Director and CEO V Shankar said.

During 2011-12, Rallis registered consolidated revenue of Rs 1,245.24 crore and a net profit of Rs 99.18 crore.