Rallis up 24% in second quarter
Rallis India recorded a consolidated sales rise of 24.1% to Rs 5,966.7 million ($97.3 million at the current rate) in its second quarter ended September 30th. Net profit was up by 20.3% to Rs 727.9 million ($11.9 million). Six-month sales increased by 22.4% to Rs 10,059.8 million ($164.1 million). Net profit for the period rose 21.1% to Rs 1,061.1 million ($17.3 million). The monsoon rainfall until the end of September was 6% above the normal and the best since 1994, Rallis says. Sowings during the kharif (summer) season registered an increase of 4.4%. The company feels that the abundant rainfall has increased ground water and reservoir storage which should augur well for the next season.