Agrochemicals firm Rallis India's stock tumbles over 10% after Q4 earnings

Shares of agrochemicals firm Rallis India on Friday tumbled over 10 per cent after it reported a consolidated loss of Rs 14 crore for the March quarter of 2021-22.

The stock tanked 9.69 per cent to settle at Rs 253.85 on the BSE. During the day, it tumbled 10.28 per cent to Rs 252.20.

At the NSE, it plummeted 10.12 per cent to settle at Rs 252.95.

Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a consolidated loss of Rs 14 crore for March quarter due to multiple challenges, including in seeds business.

The company had posted a consolidated profit of Rs 8 crore during January-March 2020-21, 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, it was 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.