January 22, 2018
Rallis India announces its financial results for the quarter ended December 31, 2017
- Q3 revenues rise 12 percent to Rs390 cr
- Total comprehensive income Rs26 cr
Mumbai: Rallis India, a TATA Enterprise and a leading player in the Indian crop protection industry, announced its financial results for the quarter ended December 31, 2017. According to the requirement of Ind AS and SEBI (Listing Obligations and Disclosure Requirements) regulations, 2015, revenue for the corresponding previous quarter ended December 31, 2016, for the nine months ended December 31, 2016, and year ended March 31, 2017, were and are reported inclusive of Excise Duty.
The Government of India has implemented Goods and Service Tax (GST) from July 1, 2017 replacing Excise duty, Service Tax and various other indirect taxes. As per Ind AS 118, the revenue for the quarters ended December 31, 2017 and September 30, 2017 is reported net of GST.
Consolidated key highlights - Q3
Rallis registered revenues of Rs390 cr (PY Rs350 cr) for the quarter ended December 31, 2017. Profit before tax (before exceptional items) at Rs28 cr (Rs32 cr); Total comprehensive income at Rs26 cr (PY Rs25 cr).
Standalone Key Highlights - Q3
Rallis registered revenues of Rs357cr (PY Rs327 cr) for the quarter ended December 31, 2017. Profit before tax (before exceptional items) at Rs38 cr (Rs40 cr); Total comprehensive income at Rs34 cr (PY Rs34 cr).
Commenting on the performance and developments, V Shankar, MD and CEO, Rallis India said, "I am happy to report better market performance over last year on the back of an improved water storage levels in major reservoirs. North-east monsoon which was forecasted to be normal ended at 11 percent departure though there was good rainfall in key southern states. The cropping acreages has been up in most crops, except wheat and oil seeds. Our broad based portfolio of solutions and robust farmer relationship have been instrumental in driving our revenue growth during the quarter. Despite market challenges and pricing pressure our quality of operations stood ground driven by Rallis Samrudh Krishi® and our digital initiatives.”
“Our suite of solutions has enabled us to help farmers in multiple crops and notably in paddy which has grown. The recent set of products has received encouraging response from farmers. 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.