Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Corporate Results
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Pesticides Rallis India Q3 PAT at Rs 36 cr Our Bureau
Mumbai , Jan. 29 RALLIS India Ltd on Thursday reported a profit after tax of Rs 36.16 crore for the quarter ended December 31, 2003 as against the previous corresponding Rs 6.86 crore-loss. The company's total revenue was lower at Rs 143.53 crore (Rs 212.92 crore for the year ago period), including net sales of Rs 137.94 crore (Rs 206.16 crore). For the nine month-period, Rallis had a PAT of Rs 10.97 crore (Rs 18.24 crore-loss) on total revenue of Rs 395.93 crore (rs 640.29 crore), including net sales of 376.25 crore (Rs 616.84 crore). In its statement, the company said, its nine month-figures were not comparable with previous as they have been prepared excluding the figures of its merged subsidiaries. The Mumbai High Court had earlier approved the scheme of amalgamation of Rallis India with Ralchem Ltd, Rallis Finance and Investments Company Ltd, Rallis Hybrid Seeds Ltd, Ralis Farm Management Services Ltd and Sankhya Garments Ltd, effective April 1, 2002. Similarly the same Court and the Andhra Pradesh High Court had approved the scheme of amalgamation with Siris India Ltd effective April 1, 2002. However, the lower nine month-turnover was primarily attributed to the disengagement of the company's bulk fertilisers and marketing arrangements with Tata Chemicals Ltd, effective April 1, 2003. Purchase of finished goods is also not comparable due to this.
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