Rallis India shares fall over 4% after results beat estimates
Business
Rallis India, part of the Tata Group, saw its shares fall over 4% after posting its latest quarterly results.
Net profit dropped 16% to ₹85 crore compared with last year, but still beat analysts' estimates.
Revenue stayed flat at ₹858 crore, coming in higher than expected.
Rallis India seeds down 31%
While the Crop Care segment managed a small revenue bump, the seeds business struggled with a 31% drop, attributed to lower paddy acreage and higher Kharif sales returns.
These challenges have pushed Rallis India's stock down 34% from its year high, now trading at ₹196.1 as investors react to ongoing business pressures.