Shares of agriculture solutions firm Rallis India on Wednesday plunged over 8 per cent after the company reported a decline of 49.62 per cent in its consolidated net profit for the quarter ended March, 2020.
On BSE, the stock plummeted 7.91 per cent to Rs 205.95. It sunk 8.37 per cent to Rs 205 on NSE.
Rallis India 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, the company said in a BSE filing.
The total income marginally increased 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.
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