OREANDA-NEWS. January 29, 2013. Rallis India, a Tata enterprise and a leading player in the Indian crop protection industry, announced the financial results for the quarter and nine months ended December 31, 2012.

Net sales registered a growth of 7 percent at Rs339.81 crore as compared to Rs317.65 crore during Q3 of the previous year. Net profit (after minority interest) for the Q3 FY13 was Rs22.03 crore (Rs7.66 crore for Q3 PY). Profit before tax (before exceptional items) for the quarter was Rs32.88 crore as against previous quarter profit of Rs36.65 crore.

Net sales registered a growth of 12 percent at Rs1161.44 crore as compared to Rs1041.36 crore during the same period in previous year. Net profit (after minority interest) for the nine months ended December 31, 2012, was Rs107.76 crore (Rs89.30 crore for the same period in previous year). Profit before tax (before exceptional items) for the nine months ended December 31, 2012, was Rs154.01 crore as against the same period in previous year profit of Rs158.65 crore.

During the quarter ended December 31, 2012, the company has acquired / subscribed to shares comprising 22.81 percent of the equity shares of Zero Waste Agro Organics (ZWAOPL). Rallis India has certain rights under the shareholder agreement which requires ZWAOPL to be treated as a subsidiary of the company and hence it is consolidated. The results for the quarter and nine months ended December 31, 2012 are not materially affected as a consequence of this acquisition.

Pursuant to the share purchase agreement dated December 9, 2010, the company has acquired additional stake of equity shares in Metahelix Life Sciences (Metahelix) during the quarter ended December 31, 2012, consequently the shareholding of the company in Metahelix has increased from 75.64 percent to 77.02 percent as on December 31, 2012.

Commenting on the performance, V Shankar, managing director and CEO, Rallis India, said, “I am pleased that we have registered a 12 percent growth in revenues so far this year despite rather difficult environment both for agriculture and markets. Our focus and activities around farmer relationships and brands have helped us to strengthen our market position. The recognition we have received winning the CII EXIM prize for business excellence affirms our commitment to build robust processes to drive performance excellence.”