OREANDA-NEWS. October 23, 2012. Rallis India, a Tata enterprise and a leading player in the Indian crop protection industry, announced the financial results for the quarter and six months ending September 30, 2012.

Consolidated Q2 performance

Net sales registered a growth of 11 percent at Rs480.62 crore as compared to Rs432.12 crore during the previous quarter. Net profit (after minority interest) for the Q2 FY13 was Rs61.56 crore (Rs58.52 crore for Q2 PY).

Profit from operations (before exceptional items, other income and forex loss / gain) for the quarter was Rs89.03 crore as against previous quarter profit of Rs95.01 crore.

Consolidated H1 performance

Net sales registered a growth of 14 percent at Rs821.63 crore as compared to Rs723.71 crore during the H1 PY. Net profit (after minority interest) for H1 FY13 was Rs85.73 crore (Rs81.64 crore for H1 PY).

Profit from operations (before exceptional items, other income and forex loss / gain) for the half year was Rs123.11 crore as against previous half year profit of Rs132.67 crore.

Commenting on the performance, V Shankar, managing director and CEO, Rallis India, said, “I am happy that during the first half of the current year, in spite of a delayed and deficient monsoon, our revenue grew to Rs821.63 crore and has reported a net profit of Rs85.73 crore. Our continued focus on connecting with farmers through Rallis Kisan Kutumba initiatives, strong brands and value-creating initiatives in the agricultural space has contributed to strong performance in this kharif season.”

Mr Shankar further commented, “There were shifts in farmer preferences for crops and Rallis, with the help of a strong understanding of the market conditions, moved with agility to the changing circumstances. Our focus on the new initiatives continued with vigour with MoPu reaching out to more than 25,000 farmers and 60,000 acres in the current season in Maharashtra, MP, Karnataka and Tamil Nadu. Our new products in the plant growth promoter segment did well and our key brands recorded good growth.”