The Hindu Business Line : Rallis Q3 net down at Rs 8.56 crore

MUMBAI: Rallis India Ltd has reported a lower net profit of Rs 8.56 crore for the quarter ended December 31, 2005, compared with the previous corresponding Rs 13.32 crore.

The third quarter of last financial year had included a gain of Rs 5.14 crore from sale of investments/ assets, which this time around was much lower at Rs 13 lakh.

The slip in the third quarter FY06 profit prior to taking aboard impact of tax and sale of investments was hence marginal, to Rs 8.06 crore (Rs 8.63 crore for the year-ago period).

However, the company's net sales/ income from operations declined to Rs 166.26 crore (Rs 181.10 crore). During the just ended quarter, the pesticides industry had faced a turbulent period with lack of pest incidence and unseasonal incessant rains affecting sales.

For the nine-month period, Rallis India reported a net profit of Rs 39.46 crore (Rs 29.49 crore) on net sales/ income from operations of Rs 496.56 crore (Rs 470.89 crore). Profitability here included Rs 10.66 crore earned on sale of a business.

Shares of Rallis India moved down by Rs 45.90 to Rs 374.55 on the National Stock Exchange.