Rallis India, a Tata Enterprise, today reported over 16 per cent growth in net profit at Rs 77.25 crore for the quarter ending September 30 compared to the same period last year.
The company's net was at Rs 66.52 crore during the corresponding quarter in last financial year, Rallis said in a release issued here.
Rallis India's total income during the second quarter was flat at Rs 591.22 crore, compared to Rs 590.44 crore in the same period in FY17.
"The southwest monsoon on cumulative basis was near normal at 95 per cent of long period average, but only 67 per cent of area received normal rainfall. Cropping acreages, however, were nearly same as last year, except cotton," said Rallis India Managing Director V Shankar.
He said the company's broad based portfolio of solutions and robust farmer relationship has driven its revenue growth during the quarter.
"A combination of right product mix as well as cost control measures had resulted in healthier quality of operations during the quarter.
"During the quarter, we introduced three new products Cenator (fungicide for the management of sheath blight in paddy), Pulito (a broad spectrum fungicide on fruits and vegetables) and Odis (a broad spectrum insecticide for the management of sucking pest), which have started to receive encouraging response from farmers," he added.
The company's performance in the international business was also buoyed by the improving situation in key markets such as Brazil and strong demand for herbicides, he said.
"We also witnessed a positive impact of advancing of some orders to the second quarter. I do hope with normal forecast for Northeast monsoon and improving reservoir water level we would have a better Rabi season," he added.
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