Rallis India is top loser
By
Research Desk
about 9 years ago
Rallis India is currently the top loser on the BSE, down over 8% intra day at Rs.145, a new 52-week low. The stock is down on account of its poor Q3FY16 performance.
The company posted a 20% (YoY) drop in its consolidated net profit at Rs.20 crore and this was mainly on account of lower revenues. Topline fell 2% at Rs.306 crore and EBITDA margins were down from 13.1% to 11.5%.
The company stated, “the quarter saw muted farmers sentiments due to reduced Kharif yields and lower prices of key crops. The drop in usage of crop protection solutions has impacted sales of some key Rallis brands for paddy and pulses.” The company said that he looks forward to market picking up in the first half of 2016-17.