Rallis India advanced 4.9% to Rs 219.40 at 10:23 IST on BSE after consolidated net profit surged 310.9% to Rs 174.20 crore on 45.4% rise in total income to Rs 610.31 crore in Q1 June 2016 over Q1 June 2015.
The result was announced after market hours on Friday, 22 July 2016.Meanwhile, the S&P BSE Sensex was down 3.11 points or 0.01% at 27,800.13
On BSE, so far 1.48 lakh shares were traded in the counter as against average daily volume of 48,405 shares in the past one quarter. The stock hit a high of Rs 224.90 and a low of Rs 217.95 so far during the day. The stock had hit a 52-week high of Rs 258.90 on 23 July 2015. The stock had hit a 52-week low of Rs 142 on 21 January 2016. The stock had underperformed the market over the past one month till 22 July 2016, falling 4.1% compared with Sensex's 3.88% rise. The scrip, however, outperformed the market in past one quarter, advancing 7.89% as against Sensex's 7.61% rise.
The mid-cap company has equity capital of Rs 19.45 crore. Face value per share is Re 1.
Rallis India's consolidated profit before tax (before exceptional items) rose 38% to Rs 62 crore in Q1 June 2016 over Q1 June 2015. The company's profit before tax surged 391.11% to Rs 221 crore in Q1 June 2016 over Q1 June 2015. The profit in Q1 June 2016 was boosted by an exceptional item of Rs 158 crore comprising profit on assignment of leasehold rights to a plot of land in the MIDC area, Turbhe, Navi Mumbai to Ikea India. The profit is net of costs including a premium levied under the repealed Urban Land (Ceiling and Regulation) Act 1976, which was paid under protest.
Rallis India is one of India's leading agrochemicals companies.
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