Shares of agrochemicals firm Rallis India on Friday tumbled as much as 9.2 per cent to hit an intraday low of Rs 255 after it reported loss of Rs 14 crore in quarter ended March 2022 against profit of Rs 8 crore in the same period last fiscal.
The stock tanked 9.19 per cent to Rs 255.25 on the BSE.
Rallis India, a subsidiary of Tata Chemicals, on Thursday reported a consolidated loss of Rs 14 crore for March quarter due to multiple challenges, including in seeds business.
The company had posted a consolidated profit of Rs 8 crore during January-March 2020-21, Rallis India said in a BSE filing.
Consolidated revenue during the quarter under review grew 7.85 per cent to Rs 508 crore. In the year-ago period, it was Rs 471 crore.
"The company delivered a resilient performance in the wake of multiple headwinds during the year. Our domestic crop care business grew at 14 per cent and exports by 6.2 per cent during the year. Our seeds business faced challenges and revenue declined by 13 per cent," Rallis India Managing Director and CEO Sanjiv Lal said.
As of 11:54 am, Rallis India shares traded 7.44 per cent lower at Rs 260, underperforming the Sensex which was down 0.5 per cent.
