Rallis India dips on disappointing Q4 results

The stock dipped 6% to Rs 235 after the company reported 10% YoY drop in profit at Rs 31 crore in Q4

Rallis India dipped 6% to Rs 235 on BSE in early morning trade after the company reported 10% year-on-year (YoY) drop in its consolidated net profit at Rs 31 crore for the quarter ended March 2017 (Q4FY17), due to higher depreciation and raw material cost. The agrochemicals company had profit of Rs 34.5 crore in year ago quarter.

Revenues during the quarter under review too declined 1% to Rs 367 crore against Rs 371 crore in the corresponding quarter of previous fiscal.

“The below normal northeast monsoon severely affected the key southern states with 30 reservoirs in the