Rallis India reports 54% decline in Q3 profit to ₹11 crore

Rallis India, a Tata Enterprise, on Friday reported a 54.16% on-year decline in net profit to ₹11 crore for the quarter ended December 31, 2024.

The company's net profit stood at ₹24 crore during the corresponding period of the previous financial year, Rallis India said in a regulatory filing.

Revenue from operations witnessed a 12.70% decline during the quarter under review at ₹522 crore, compared to ₹598 crore in the same period of the previous fiscal.

"Domestic business registered volume growth in the backdrop of intense market competition. I am pleased with the growth in the biologicals and specialty solutions business, which has grown by 13%. Seeds business revenue was ₹30 crore, as against ₹32 crore in Q3 of previous year," Rallis India Managing Director and CEO Gyanendra Shukla said.

Exports business continued to face headwinds with business registering a de-growth of 38% resulting in overall revenue de-growth of 13% and drop in profitability, he said.

"Our efforts will continue to be focused on improving market share in the domestic business underpinned by the growing segments of seeds, herbicides and biologicals and specialty solutions. We have planned new differentiated product launches to serve the varying needs of farmers," he added.

Shares of the company on Friday closed at ₹289.75, up 0.52% on BSE.