Rallis registers net profit of 219 per cent for Q4

Mumbai, Apr 12 (UNI) Rallis India Limited reported 11.4 percent increase in sales and a net profit of 219 per cent for quarter ending March 31, as compared to last year's corresponding period.

The board of directors also recommended a dividend of 80 per cent for the financial year.

Announcing the financial results, Rallis India Ltd Managing Director Dr V S Sohoni said, ''Results of this quarter are encouraging and probably the best one of the decade for the company.

The continuing success of newly introduced products during this quarter has ensured an improved growth.'' Dr Sohoni attributed the reasons for better performance to the diversified portfolio of its products in the pesticide and crop protection industry. He pointed out that a newly launched crop protection product of the company applaud' did a business of over Rs 37 crore during the first year of its launch.

Rallis had incurred huge losses due to the slump in pesticide industry just few years back but made a dramatic turnaround at a time when the crop protection industry saw a decline of sales.

A wholly-owned subsidiary of Tata, Rallis is mainly into agro-based pesticide business and has future plans to diversify into adjacent business in agro-based industry. The company is also planning to expand its operations abroad.

The company has four factories in Lote, Turbhe and Ankeleshwar and is all set to come up with a new factory at Jammu.

UNI