Tata group's agrochemical firm Rallis India today reported a 21 percent rise in consolidated net profit to Rs 74.75 crore for the quarter ended September on higer sales.
The company had posted a net profit of Rs 61.56 crore in the year-ago period. The consolidated total income from operations rose by 24 percent to Rs 602.40 crore during July-September quarter of 2013-14 fiscal from Rs 485.5 crore in the corresponding period of the previous year. Also read: Expecting strong Rabi crop in Q2: Rallis India In a filing to the BSE, Rallis India informed that the Board of Directors at its meeting held today has approved the payment of interim dividend of 100 percent (Re 1 per share) to the shareholders. Pursuant to share purchase agreement entered in April, 2012, the Company has acquired additional stake of equity shares in Zero Waste Agro Organics Limited (ZWAOL) during the quarter ended 30 September 2013. Consequently, Rallis India's shareholding in ZWAOL has increased from 22.81 percent to 27.75 percent as on September 30, 2013. In October last year, the company had announced the acquisition of 22.8 percent stake in the Maharashtra-based Zero Waste Agro Organics Pvt Ltd (ZWAOPL) for Rs 10 crore.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
