Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a 23.80 per cent decline in profit after tax at Rs 48 crore during the quarter ending June 30, compared to the same period in the previous financial year.
The company's PAT stood at Rs 63 crore during the corresponding quarter of the previous fiscal, Rallis India said in a regulatory filing.
Revenue from operations of the company was flat at Rs 783 crores during the quarter under review compared to Rs 782 crores during the same period of the previous year.
Crop care business delivered strong volume-led revenue growth of 8 per cent. Seeds revenue was down by 16 per cent largely due to supply constraints. Despite market challenges, concerted actions were taken to drive margins through better product mix and dynamic pricing, Rallis India Managing Director and CEO Dr Gyanendra Shukla said.
"We remain cautious about the export market and expect a gradual recovery during the year. Sentiments for the domestic market are positive with the recent monsoon pick-up. On a long-term basis, Customer Centricity will remain a key thrust and we will continue to offer differentiated solutions to solve varying farmer needs. We will further intensify our efforts to build capabilities in manufacturing, digitalisation and leverage Collaborations and Alliances," he added.
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