Rallis up 16% in first quarter
Rallis India recorded a sales increase of 16% to Rs 3,383.1 million ($61.6 million at the current rate) in its first quarter ended June 30th 2012. Net profit was impacted by a negative currency effect of Rs 50 million ($900,000) and rose by a more modest 4.5% to Rs 241.7 million ($4.4 million). The higher revenues reflected an increase in its stake in the Indian agricultural biotechnology company, Metahelix Life Sciences, from 60.2% in the first quarter of 2011 to 75.6% in the same period this year. Rallis registered a 16.8% growth in revenues to Rs 12,452.4 million ($226.9 million) in fiscal 2011 ( Agrow No 641, p 8).