OREANDA-NEWS. 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, 2013.

Q3 performance (consolidated)

Net sales rose 17 percent to reach Rs396 Crs as compared to Rs340 Crs during the same period previous year. Net profit (after minority interest) for Q3 FY14 grew 38 percent to Rs30 Crs (Rs22 Crs for Q3 PY).

Profit from operations (before exceptional items, other income and forex loss / gain) for the quarter increased 18 percent reaching Rs46 Crs as against previous year Q3 profit of Rs39 Crs.

Nine-month performance (consolidated)

Net sales registered a growth of 21 percent to reach Rs1402 Crs as compared to Rs1161 Crs for the same period in the previous year. Net profit (after minority interest) grew 23 percent for nine months ended FY14 to reach Rs133 Crs (Rs108 Crs for nine months of PY).

Profit from operations (before exceptional items, other income and forex loss / gain) for nine months increased by 26 percent to Rs205 Crs as against previous year nine months of Rs163 Crs.

Commenting on the performance, V Shankar, managing director and CEO, Rallis India, said, “I am pleased that we have reached new highs in this quarter both in revenues and profits. While the domestic business stood its ground with strengthening its relationship through the farmer programmes, international business grew well due to robust demand of the key products. Our continued focus on connecting with farmers through Rallis Kisan Kutumba initiatives, strong brands and value creating initiatives in agri space led to robust revenue growth and exceeding the full year profit of previous year by 11 percent in the nine months.”

Further, Mr Shankar commented that “there were shifts in farmer preferences for crops and Rallis, with the help of a strong understanding of the field level changes, moved with agility to cater to the changing needs. Our focus on the new initiatives such as more pulses programme, Samrudh Krishi, etc continued with vigour. Our new products in the plant growth promoter segment did well and our key brands recorded good growth.”