Rallis India net rises to Rs 24 crore

Rallis India, a Tata group company, said its net profit has gone up five per cent to touch Rs 24 crore (Rs 23 crore). The company registered a forex loss of Rs 5 crore against a gain of Rs 29 lakh recorded in the same period last year. Income grew 16 per cent to 345 crore (Rs 297 crore). The company logged in other income of Rs 9 crore from the sale of residential property in Mumbai. Rallis has enhanced its stake in its subsidiary Metahelix Life Sciences, a seed company, to 75.64 per cent from Rs 60.21 per cent. Mr V. Shankar, Managing Director and CEO, Rallis India, said, though the rains have been deficient this year, a lot of catching up has happened in the last few weeks after the monsoon revived in most parts of the country. The company’s shares were down two per cent at Rs 122 on Monday.