Rallis India Q4 net profit up 14%

NEW DELHI: Tata group firm Rallis India on Thursday posted 14 per cent jump in consolidated net profit at Rs 11.26 crore during its fourth quarter ended March 31 on strong growth in sales.

The company had clocked Rs 9.88 crore profit in the same quarter last year.

Net income rose to Rs 284.89 crore in the fourth quarter of the 2012-13 fiscal, from Rs 215.72 crore in the same period last year, the company said in a filing to the BSE.

Rallis, a leading player in the Indian crop protection industry, also said that Maharashtra-based Zero Waste Agro Organics Pvt Ltd ( ZWAOPL) has become its subsidiary firm now.

"(Rallis) has been granted certain rights under the shareholders agreement, as a result of which ZWAOPL has become a subsidiary of the company," the company said.

As per the agreement, Rallis which already has 22.81 per cent stake in ZWAOPL was given right to increase its stake to 51 per cent in a year's time.

The company scrip fell 1.87 per cent to settle at Rs 123.30 on the BSE.