Shares of agriculture solutions firm Rallis India on Wednesday erased early losses to close the day on a flat note.
In early trade, the scrip had plunged over 8 per cent after the company reported a 49.62 per cent decline in its consolidated net profit for the quarter ended March, 2020.
On BSE, the stock, which plummeted 7.91 per cent to Rs 205.95 during the day, later recovered the lost ground and closed at Rs 224, up 0.16 per cent.
On NSE, it closed 0.11 per cent higher at Rs 224. During the day, it plunged 8.37 per cent to Rs 205.
The company on Tuesday reported a decline of 49.62 per cent in its consolidated net profit at Rs 0.68 crore for the quarter ended March 2020.
The firm had posted a net profit of Rs 1.35 crore in the same period a year ago, it said in a BSE filing.
More From This Section
Total income increased marginally to Rs 346.29 crore during the period as against Rs 339.69 crore during the quarter ended March 31, 2019.
Due to the nationwide COVID-19 lockdown, Rallis India said its operations were disrupted at certain manufacturing facilities and depots of the company, as a result of which goods worth Rs 16.04 crore could not be dispatched to the domestic market.