Tata group company Rallis India’s net profit for the fourth quarter ended March 31, 2002, has increased by nearly eight times to Rs.36.42 crore as compared to Rs.4.07 crore in the corresponding quarter last year.

The company’s net income from operations was higher at 
Rs.245.24 crore in the fourth quarter as against Rs.239.08 crore in the corresponding quarter last year.

Net profit for the year ended March 31, 2002 stood at Rs.58.75 crore, as against a net loss of Rs.25.58 crore last year. The company’s net income from operations during the fiscal was Rs.1,037.68 crore (Rs.1,088 crore).

The company has stated that due to its exit from the pharmaceutical business and the change in the mode of distribution of the products of one of its overseas alliances, the turnover figures of the company are not comparable to the previous year.

The net profit of the company was as after taking into consideration 
extra-ordinary items, minimum alternate tax and deferred tax. The cumulative deferred tax liability of Rs.18.69 crore as on April 1, 2001 has been adjusted against the company’s reserves as on that date.

The company has a diminution in the value of its investments in three of its subsidiary companies, namely Ralchem Ltd, Rallis Finance & Investments Company Ltd. and Rallis Farm Management Services Ltd. The diminution has been attributed to the dilution of the companies net worth. Rallis India Ltd.’s board has recommended a dividend at 100 per cent on equity shares of which 60 per cent is a special dividend for the 2001-02 fiscal.