OREANDA-NEWS. Rallis India, a Tata Enterprise and a leading player in the Indian crop protection industry, announced its financial results for the quarter and six months ended September 30, 2014.

Consolidated Key Highlights - Q2

Rallis recorded a 7% growth in revenues with net sales touching a new milestone at Rs636 crore, for the quarter ended 30th September, 2014. Profit before tax increased to Rs107 crore (Rs104 crore). EBITDA grew by 7% to Rs122 crore (Rs114 crore). Net profit after minority interest was at Rs73 crore (Rs75 crore).

Standalone Key Highlights - Q2

The Company grew 2% in revenues with net sales scaling to a new milestone of Rs578 crore, for the quarter ended 30th September, 2014. EBITDA grew to Rs123 crore (Rs120 crore) with Profit before tax at last year level of Rs111 crore. Net profit was Rs76 crore in Q2 this year (Rs 80 crore).

Taking note of the good performance for the first half the Board was pleased to approve an interim dividend of Rs1 per share.

Commenting on the performance and developments, Mr V Shankar, managing director and CEO, Rallis India said, "I am pleased that we have recorded good performance across our business segments despite the erratic South-West monsoon this Kharif. The long drought like spell followed by heavy rains in certain areas did not augur well for the normal cropping pattern affecting yields and farm incomes. Our strong brands and effective farmer relationship programs drove our market performance along with the new product introductions notably ORIGIN and HUNK in Q2. The industry faced inventory and pricing pressures due to uneven rainfall and the overall shift in the season. We continued with our focus on working capital and placing stocks to align with market requirements. With the revival in activity in the month of September our business performed well across Seeds and Crop Protection portfolios. International business continued to contribute well. The reservoir levels are up now and we do look forward to a better Rabi season".