Rallis India logs ~18% yoy decline in PAT at Rs67 crore; stock slips ~1.5%

20 Jul 2022 , 01:28 PM

Rallis India Limited, a TATA Enterprise and a major player in the Indian agricultural inputs industry, announced its financial results for the first quarter of the fiscal year beginning April 2022.

The Company recorded revenues of Rs863 crore for the quarter ending June 30, 2022, registering a growth of 16.5% yoy against Rs741 crore in the previous corresponding quarter.

However, company’s Profit before tax (before exceptional items) for Q1FY23 stood at Rs90 crore as against Profit before tax (before exceptional items) of Rs109 crore in Q1FY22, registering a decline of 17.43% yoy.

Profit after tax (after exceptional items) during the current quarter dipped by 18.30% yoy at Rs67 crore, as compared to Rs82 crore in Q1FY22.

Rallis India became the first company in India to introduce FENOXANIL, with its announcement of CAPSTONE.

The company also launched a new herbicide for Cotton and Paddy crops each, 3 new Paddy hybrids, and a Tomato hybrid.

At around 1.34 PM, Rallis India was trading at Rs205.45 down by Rs3.05 or 1.46% from its previous closing of Rs208.50 on the BSE. The scrip touched intraday high and low of Rs206.70 and Rs203 respectively.