Mumbai, Apr 21 (PTI) Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a consolidated loss of Rs 14 crore for the March quarter due to multiple challenges, including in seeds business.
The company has posted a consolidated profit after tax of Rs 8 crore during the corresponding quarter of the previous financial year, Rallis India said in a BSE filing.
Consolidated revenue during the quarter under review grew 7.85 per cent to Rs 508 crore. In the year-ago period, the same stood at Rs 471 crore.
“The company delivered a resilient performance in the wake of multiple headwinds during the year. Our domestic crop care business grew at 14 per cent and exports by 6.2 per cent during the year. Our seeds business faced challenges and revenue declined by 13 per cent,” Rallis India Managing Director and CEO Sanjiv Lal said.
According to him, supply chain challenges continued into the fourth quarter with availability issues for certain intermediates as well as steep cost inflation.
“We are focussed on minimising the disruptions to our production as much as possible. Calibrated price corrections have helped in partially neutralising the material cost inflation,” he said.
On the positive side, he said predictions of normal monsoons and robust commodity prices, both locally and globally, are expected to have a favourable impact on Indian agriculture.
“Moving forward, we are focused on growth despite the volatile context. On a longer-term basis, our capex plans, new product introduction plans, and demand generation investments remain on course as we believe that normalcy will be restored progressively,” he added.
Meanwhile, Rallis India recorded a 28.38 per cent decline in consolidated profit after tax (after exceptional items) at Rs 164 crore in 2021-22. It was at Rs 229 crore in the previous financial year.
The consolidated revenue of the company in the last fiscal grew 7.2 per cent to Rs 2,604 crore. In the year-ago period, it was at Rs 2,429 crore. PTI SM SHW SHW
