Rallis India falls as higher costs dent June-quarter profit
20/07/2022 10:08
July 20 (Reuters) - ** Shares of crop protection
products maker Rallis India RALL.NS fall as much as 2.5% to
203.1 rupees, their biggest intraday pct drop since June 16
** RALL, a Tata group co, on Tuesday reported 18.1% decline
in June-qtr net profit to 674.7 mln rupees ($8.44 mln) from a
year ago urn:newsml:reuters.com:*:nFWN2YZ27Y
** Cost of materials consumed in the qtr increased by 38.44%
to 5.15 bln rupees from year ago
** Co faced cost headwinds which affected margins - CEO
Sanjiv Lal
** In the seeds business, there were challenges of delayed
monsoon and crop shifts, says Lal
** More than 538,000 shares change hands by 0858 GMT, vs
30-day avg of 285,334
** Shares down 23.9% this year as of last close
($1 = 79.9525 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
((Meenakshi.Maidas@thomsonreuters.com;))