Rallis India is down 9% after Tata Chemicals reported a Rs 14 crore loss in the fourth quarter

Shares of Rallis India fell 9.2% in trading on Friday as the company, which is a subsidiary of Tata Chemicals, reported a consolidated loss of Rs 14 crore in the fourth quarter on various challenges including the fuel sector.

The company had posted a consolidated profit after tax of Rs 8 crore for the corresponding financial quarter last year.

The Rallis India counter fell to Rs 255.25 from BSE's Rs 281.10 a day earlier. The stock is down 6% in the latest session.

      

The company recorded a 7.70% increase in revenue to Rs 507.54 crore for the quarter ended March 2022 compared to Rs 471.26 crore for the previous quarter ended March 2021.

For the full year, net profit fell 28.17% to Rs.164.20 crore a year ago from Rs.228.58 crore for the year ended March 2021, the report said.

Revenue reportedly increased by 7.18% to Rs.2,603.93 crore in the year to March 2022 from Rs.2,429.44 crore in the year to March 2021.

At a meeting on April 21, 2022, the Board of Directors of Rallis India recommended an award of Rs 3 per share or 300% for the fiscal year 2021-22 (April-March) after approval by the members of the 74th Annual Meeting.


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