Rallis India is amongst the top losers on the BSE, down over 5% at Rs.222.85. Its 52-week high and low is at Rs.289.40 and Rs.205 respectively.
The stock price has slipped big time on account of a dismal performance for Q4FY18. The company reported a 37% (YoY) decline in net profit at Rs.19.58 crore v/s Rs.31 crore (YoY).
The company stated that the Northeast monsoon which was forecasted to be normal ended at below 11% departure. Overall the Rabi cropping acreages were down by 1% while paddy and pulses improved, wheat acreages were down over last year.
The company ended FY18 with a consolidated net profit at Rs.167 crore, down 44% and this was on a 2% rise in total income at Rs.1822 crore.