Rallis Profit grows 67% in Q3

Q3 results (October-December 2007)
Rallis India Ltd, a TATA Enterprise and a leading agrochemical player in India, announced its financial results for third quarter ended 31st December 2007. The Company has significantly increased Profit before Tax at Rs 16.7 Crores in Q3 compared to Rs 10.0 Crores during the same period last year. Revenues rose by 8% to Rs. 201.6 Crores, compared to Rs. 186.2 Crores in Q3 last year.

9 months’ results (April – December 2007)

The Company recorded Profit before tax of Rs. 139 Crores for the first nine months of FY 2007-08, compared to the figure of Rs. 48 crores in the corresponding period last year thereby registering a significant improvement in performance so far this year. This included profit from exceptional items due to sale of land totalling Rs. 87 Crores (Rs.54 Crores last year in the corresponding period).

The income from operations during the first nine months of the FY 2007-08 crossed a new milestone at Rs. 605.1 Crores, which is 8% higher than the income of Rs. 558.4 Crores in the corresponding period last year.

Commenting on the Company’s performance for Q3 and nine months, Mr. V Shankar, CEO & Executive Director, Rallis India said, “I am pleased that our growth initiatives have contributed to bettering our performance in Q3. The focus on improving the product mix as well as the satisfying results of our new products have been beneficial. Our value creation programme DISHA and focus on international business through our APOLLO initiative have also been big contributors.

The Company recently launched a formulation of a patented insecticide of Nihon Nohyaku, its Japanese alliance partner in the Indian market under the brand name TAKUMI. With its unique activity which gives long duration control on caterpillar insects across a range of crops, the farmer response to TAKUMI is very encouraging. The Company is also actively pursuing expansion plans to grow with custom manufacturing business, given the sourcing opportunities opening up in the country.

Mumbai, 16thJanuary,2008.

V SHANKAR      CEO & Executive Director

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