This Tata group stock falls 7% following Q1 results - Check details

Rallis India Share Price NSE, BSE: Shares of Rallis India, a Tata group stock, fell around 7 per cent on Friday. The dip in share price comes a day after the company announced its quarter one earnings for the financial year 2024-25 (Q1FY25). The counter opened gap down at Rs 325.10 - a loss of 4.69 per cent from the previous close of Rs 340.65. It sipped further to Rs 317.25 - a dip of 6.99 per cent from the previous close. 

The stock of the agrochemical firm, with a market cap of Rs 6,223 crore, has a 52-week high of Rs 357.20 and a 52-week low of Rs 205.15.

Rallis India Q1 profit declines 23.80 per cent

Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a 23.80 per cent decline in profit after tax at Rs 48 crore during the quarter ending June 30, compared to the same period in the previous financial year.

The company's PAT stood at Rs 63 crore during the corresponding quarter of the previous fiscal, Rallis India said in a regulatory filing.

Revenue from operations of the company was flat at Rs 783 crores during the quarter under review compared to Rs 782 crores during the same period of the previous year.

Crop care business delivered strong volume-led revenue growth of 8 per cent. Seeds revenue was down by 16 per cent largely due to supply constraints. Despite market challenges, concerted actions were taken to drive margins through better product mix and dynamic pricing, Rallis India Managing Director and CEO Dr Gyanendra Shukla said.

"We remain cautious about the export market and expect a gradual recovery during the year. Sentiments for the domestic market are positive with the recent monsoon pick-up. On a long-term basis, Customer Centricity will remain a key thrust and we will continue to offer differentiated solutions to solve varying farmer needs. We will further intensify our efforts to build capabilities in manufacturing, digitalisation and leverage Collaborations and Alliances," he added.

With PTI inputs