Rallis India Ltd, a Tata enterprise in agri science space, has reported 23.8 per cent jump in its net profit of Rs 67.76 crore during the April to June quarter.
The company's consolidated revenues came in at Rs 623 crore for the quarter ended June 30, marking a growth of 8.8 per cent in the year-on period.
"Although the monsoon was delayed and impacted sowings, revamped channel policies and improved price realisation yielded a satisfactory performance both in agrochemicals and seeds in the domestic market," said Managing Director and CEO Sanjiv Lal.
There has also been strong growth in Rallis' international crop protection chemical business and the momentum is expected to continue, he said. The capacity expansion at Dahej is on track. Raw material availability and cost pressures were witnessed in Q1.
"Rallis remains focused on navigating this scenario with enhanced focus on supply chain effectiveness and executing on its growth plans," said Lal in a statement.
The company said its revamped trade policy, both crop protection chemicals and seeds, has been well accepted by the channel partners in the domestic market.
Rallis' international crop protection chemical business grew by 12 per cent, chiefly driven by Acephate and Metribuzin. It poised to launch two formulations in the domestic market.
Besides, the company completed the first stage capacity expansion of Metribuzin 500 MT in June while commercial production underway.