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Our Bureau

Mumbai, Oct 16 Rallis India, a Tata Enterprise, announced a substantial drop in standalone net profit for the quarter ended September 2008.

During the quarter, the profit of the company declined 59.18 per cent to Rs 41.59 crore from Rs 101.88 crore in the same quarter last year. The net profit in the second quarter of last year was boosted by an exceptional income of Rs 87 crore from sale of land.

Net sales for the quarter rose 15.41 per cent to Rs 284.79 crore, while total income for the quarter fell 14.74 per cent to Rs 285 crore, when compared with the prior year period.

Mr V. Shankar, Chief Executive Officer, Rallis India said, “the newly launched products such as Apollo was well received in the international market, besides Aplaud and Takumi has attracted farmers interest in the domestic markets.”

The company is engaged in the business of manufacturing and trading of pesticides, fertilisers and fine chemicals. Its business includes agrochemicals, institutional business, international business and contract manufacturing.

Shares of the company declined 1.08 per cent to settle at Rs 363 in BSE on Thursday.

More Stories on : Pesticides | Fertilisers

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