Rallis India, a Tata Group firm engaged in crop protection, today reported a 58 per cent jump in its net profit at Rs 14.8 crore in the quarter ended June.
The company had posted a net profit of Rs 9.4 crore in the same quarter last fiscal, Rallis said in a statement.
Net sales grew by 20 per cent to Rs 196 crore in the fist quarter as against Rs 163 crore in the same period last fiscal. The firm crossed Rs 200-crore gross sales for the first time for any quarter clocking Rs 210 crore.
"Performance of the domestic business continued in an impressive way, driven by the success of new products in recent years including new products--Ralligold and Taarak-- introduced during the year," Rallis India Chief Executive Officer and Managing Director V Shankar said.
Global business improved reflecting positive global trends, he added. The new project at Dahej is at an advanced stage of completion and will be commissioned during the current quarter.
In the 2009-10 fiscal, the company had posted a net profit of Rs 101 crore and revenues of Rs 933 crore.