Rallis India posts mixed Q2 results; stock up by 5%
At around 12:20 p.m., shares of Rallis India traded 2.06 per cent or Rs 4.25 higher at Rs 210.75 apiece. The market capitalsiation of the company at that time stood at Rs 4,109.13 crore.
Shares of Rallis India, a Tata Group company, rose in Thursday's trading session, a day after it reported a mixed set of numbers for the June-September quarter (Q2FY24). The stock rose over 3 per cent and touched the day's high of Rs 212.95 on BSE.
At around 12:20 p.m., shares of Rallis India traded 2.06 per cent or Rs 4.25 higher at Rs 210.75 apiece. The market capitalsiation of the company at that time stood at Rs 4,109.13 crore. The stock closed 5.06 per cent higher on BSE at Rs216.95 apiece.
Pesticides and agrochemicals company Rallis India on Wednesday posted a standalone profit after tax (PAT) of Rs 82 crore as against Rs 72 crore in a year ago period. Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at Rs 133 crore as against Rs 117 crore, which implies an increase of 14 per cent year-on-year (YoY).
The margin, a key measure for profitability, stood at 16 per cent YoY as compared to 12.3 per cent in the corresponding period. However, the company's revenue declined 12.5 per cent to Rs 832 crore for the reporting quarter against Rs 951 crore in the same quarter last year.
Management commentary
Sanjiv Lal, Managing Director & CEO, Rallis India, in a regulatory filing, said that the company's revenue was affected due to weak export demand, falling prices, and erratic rainfall in the domestic market.
Lal added that the company's long-term strategy remains unchanged, focused on the expansion of its product portfolio, widening of market reach, increasing manufacturing capacities, and digitalisation in operations.
Rallis India share price: Past performance
Since January, the stock has lost over 14 per cent as compared to the headline index's rise of over 3 per cent.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
05:01 PM IST