Rallis India, a Tata Group company, has reported net loss of ₹21 crore in March quarter against loss of ₹68 crore logged in same period last year, due to weak demand and lower exports.

Revenue was down at ₹436 crore (₹523 crore) in the quarter under review.

However, in FY24 the net profit doubled to ₹148 crore (₹92 crore) on lower cost. Revenue was down 11 per cent at ₹2,648 crore (₹2,967 crore).

Dr Gyanendra Shukla, Managing Director & CEO, Rallis India said the revenue for the fiscal was down on the back of continuing challenges in the exports demand and low agro-chemical prices. There was positive low single-digit volume growth in the domestic formulation business while seeds revenue grew 21 per cent and delivered break-even profit, he added.

Exports business declined 35 per cent and the market continues to be under pressure due to geopolitical unrest and continuing de-stocking, he added.

The company has begun the work on new “Rallis Science and Technology Centre” to augment innovation capabilities. It has launched three new products in crop nutrition portfolio in the March quarter.

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