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. 

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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. 

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