Rallis India reported a 26 per cent increase in net profits for the quarter that ended September 2022 at ₹71 crore over the same period as last year's ₹56 crore on higher revenues. The revenues for the quarter were up 31 per cent at ₹951 crore over the same period of the previous year's ₹728 crore.

“Our Q2 revenues grew 31 per cent over last year on the back of 31 per cent growth in the crop care business and 12 per cent growth in Seeds. Within our crop care, exports grew by 67 per cent and the domestic formulation business grew by 13 per cent growth. Despite the uneven distribution of monsoon, domestic business leveraged our geographic and portfolio diversity to achieve growth,” said Sanjiv Lal, Managing Director and CEO, Rallis India said in a statement.

Lal added, “While margins were satisfactory in the domestic business, international business margins were lower compared to Q2 of the previous financial year. Going forward, we continue to remain focused on our long-term growth plans of new product introduction and capital investment.”

During the first half of current financial year, Rallis reported a net profit of ₹139 crore on revenues of ₹1,814 crore.

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New products launched

The company launched a slew of new products during the quarter including Clasto (Pyrifluquinazon), an insecticide for whitefly on the cotton crop; Capstone, a fungicide for paddy blast disease; Clue (Pymetrozine) for paddy BPH (brown plant hopper); Onto (Quinalphos), a broad spectrum insecticide for multiple crops; and Castello (Difenoconazole) fungicide for grapes, fruits and vegetables.

It also launched two new products in the crop nutrition business.

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