Agriculture solutions firm Rallis India today posted a marginal drop in consolidated net profit at Rs 24.94 crore for the December quarter.
The Tata Group firm had clocked a net profit of Rs 25.34 crore in the same quarter last fiscal.
Net income jumped to Rs 393.86 crore during the October- December period of the current fiscal from Rs 352.19 crore in the year-ago quarter, the company said in a BSE filing.
Expenses rose to Rs 365.84 crore from Rs 320.36 crore earlier.
"Our broad based portfolio of solutions and robust farmer relationship have been instrumental in driving our revenue growth during the quarter," Rallis India CEO and Managing Director V Shankar said.
Despite market challenges and pricing pressure, the quality of operations stood ground driven by 'Rallis Samrudh Krishi' and the digital initiatives, he said.
"Our performance in the international business continues to be better than last year due to improving situation in key markets such as Brazil and strong demand for herbicides. I do expect with Rabi sowing picking up, we look forward for a good Rabi season," he added.
According to the filing, the company has decided to merger its subsidiary Zero Waste Agro Organics Ltd with itself under a scheme of amalgamation subject to necessary statutory approvals from various regulatory authorities.
Shares of Rallis India settled higher by 1.5 per cent at Rs 271.15 apiece on the BSE today.
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