Rallis India falls nearly 10% as supply issues, inflation drive Q4 loss
22/04/2022 05:23
** Shares of the agri input maker RALL.NS fall as much as
9.6% to 254 rupees, mark worst intraday pct loss since Oct. 19
** Co on Thursday reported a consolidated loss of 141.9 mln
rupees ($1.86 mln) for Q4 versus a profit 81.2 mln rupees a year
ago urn:newsml:reuters.com:*:nFWN2WJ0LR
** Co said supply chain challenges continued into Q4, with
availability issues for certain intermediates as well as steep
cost inflation and its seeds business faced challenges
** Calibrated price corrections have helped in partially
neutralising the material cost inflation - RALL
** RALL has been hit by supply chain issues for the past few
quarters and its seeds business has been facing challenges due
to restrictions on sale of paddy and maize hybrids in some
states
** More than 930,800 shares change hands vs the 30-day avg
of 508,000 shares
** RALL shares down 3.6% YTD after falling 2.6% last year
($1 = 76.2550 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru)
((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))