Rallis India Ltd., an agrochemicals subsidiary of Tata Chemicals Ltd announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company’s net profit declined 10% to Rs 82.95 crores ($11.3 million) for the period ended September 30, 2020 as against net profit of Rs 91.87 crores ($12.5 million) for the previous quarter.
Net sales increased 9.4% to Rs 738.06 crores ($100.6 million) during the period ended September 30, 2020 as compared to Rs 674.45 crores ($91.9 million) during the previous quarter.
Q2 Results- YoY
The company’s net profit declined 3.3% to Rs 82.95 crores ($11.3 million) for the period ended September 30, 2020 as against net profit of Rs 85.77 crores ($11.7 million) for the prior-year quarter.
Net sales declined 2.3% to Rs 738.06 crores ($100.6 million) during the period ended September 30, 2020 as compared to Rs 755.46 crores ($103 million) during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit grew 20% to Rs 174.82 crores ($23.8 million) for the 6 months period ended September 30, 2020 as against net profit of Rs 146.17 crores ($19.9 million) for the prior-year 6 months period.
Net sales increased 2% to Rs 1412.51 crores ($192.5 million) during the 6 months period ended Septem-ber 30, 2020 as compared to Rs 1386.68 crores ($189 million) during the prior-year 6 months period.
Mr. Sanjiv Lal, Managing Director and CEO, Rallis India said, “Gradual return to normalcy and a good monsoon season have led to a favourable momentum for agricultural activities. We have registered an 8% revenue growth during Q2 for domestic crop care business. Product specific challenges in the international business resulted in 29% YoY de-growth during Q2. Strong operating discipline resulted in improved cash from operating activities. Despite covid challenges, our capex program and focus on new product introduction remain on course.”