The Hindu Business Line : Rallis posts Rs 4-cr Q4 net, to pay Re 1

RALLIS India Ltd has returned to the dividend list after a gap of three years. It has also decided to transfer its knowledge services business, including the R&D centre at Bangalore, as a going concern to Advinus Therapeutics for Rs 26 crore.

The Tata company today reported a net profit of Rs 4.01 crore for the quarter ended March 2005, against Rs 15.09 crore in the corresponding previous period.

"The board has recommended a dividend of 10 per cent to equity shareholders and also recommended dividend to preference shareholders including accumulated dividend for the last year (pro rata from the date of allotment)," said an official statement.

Total revenue was Rs 117.46 crore (Rs 123.88 crore), including net sales of Rs 97.47 crore (Rs 109.9 crore).

Focus on pesticide business helped the company to report sales of 26 per cent in this segment.

Dr V.S. Sohoni, Managing Director, said: "A very strict control on our working capital and a change in product mix helped us report profit from operations this time."

Figures for the two quarters were not comparable as the latest fourth-quarter figures did not include the results of the gelatine business, which was sold off in March 2004.

The previous year's fourth quarter had seen gains of Rs 25.03 crore from the sale of business, which helped transform a loss before exceptional items of Rs 11.88 crore into a profit before tax of Rs 15.73 crore.

On the other hand, in the quarter under review, the company reported a profit before exceptional items of Rs 4.06 crore with a subsequent profit before tax of Rs 3.70 crore.

For the whole of 2004-05, Rallis registered a 31.11 per cent rise in net profit at Rs 33.50 crore (Rs 25.55 crore) on a 12.40 per cent gain in total revenue to Rs 593.78 crore (Rs 528.26 crore).

Net sales for the period were up 12.04 per cent at Rs 548.12 crore (Rs 489.20 crore).

Last year, the company had gains under exceptional items to the tune of Rs 78.47 crore.

The company's concentrated focus on overseas business helped it to grow its export turnover by 20 per cent.

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