Acquisition boosts Rallis Q1 sales
Rallis India registered a 48.8% increase in revenuest to Rs 2,916 million ($65 million at the current rate) in its first quarter ended June 30th 2011. Revenues were boosted by the acquisition of the Indian agricultural biotechnology company, Metahelix Life Sciences, in December 2010 ( Agrow No 606, p 5). Hence, they are not comparable with the results of last year, the company says. Net profit for the quarter was Rs 231 million ($5 million).