OREANDA-NEWS. Rallis India, a TATA Enterprise and a leading player in the Indian crop protection industry, announced its financial results for the quarter ended 30th June, 2014.

Consolidated Key Highlights - Q1

Rallis recorded a 14% growth in revenues with net sales touching a new milestone at Rs 465 crores, for the quarter ended 30th June, 2014. Profit before tax increased to Rs 48 crs (Rs 36 crs). EBITDA grew by 25% to Rs 59 crs (Rs 47 crs). Net profit increased to Rs 42 crores (Rs 33 crs). Net profit after minority interest increased by 35% from Rs 27 crores in Q1 last year to Rs 37 crores this year for the quarter.

Standalone Key Highlights - Q1

The Company grew 8% in revenues with net sales scaling to a new milestone of Rs 289 crores, for the quarter ended 30th June, 2014. Profit before tax rose to Rs 19 crores against Rs 9 crores the previous year. EBITDA grew to Rs 28 crs (Rs 18 crores). Net profit from Rs 6 crores last year increased to Rs 13 crores in Q1 this year.

Commenting on the performance and developments, Mr. V Shankar, Managing Director and CEO, Rallis India, said, "The onset of the monsoon was delayed and thereafter did not progress well leading to rainfall deficiencies in most parts of the country. As a result, the crop sowings are trailing severely in comparison to the field activity same time last year. We have adopted a cautious approach aligned to these market conditions and are closely monitoring the progress in the field. During the quarter, we have launched two products with novel offering for the farmers. One of these is a combination introduced for the first time in India. Under challenging conditions our Seeds business has performed well too. The international business portfolio has also contributed well".

The Company continues to make its investments in strengthening its market reach and farmer connect through its flagship programme Rallis Kisan Kutumba.

The progress of the monsoon in July and August will be an important determinant on how the overall Kharif season shapes up.