Tata Group agrochemical firm Rallis India Ltd on Monday reported a 21 per cent rise in consolidated net profit for the quarter ended September at Rs 74.75 crore. It had posted a net profit of Rs 61.56 crore in the year-ago period.
Consolidated total income from operations rose by 24 per cent to Rs 602.40 crore during July-September quarter of fiscal year 2013-14 from Rs 485.5 crore in the corresponding period of the previous year.
In a filing to the BSE, the Tata Group firm said its board of directors, in a meeting held on Monday, has approved the payment of interim dividend of 100 per cent (Rs 1/share) to shareholders.
Pursuant to a share purchase agreement entered in April, 2012, the company acquired an additional stake of equity shares in Zero Waste Agro Organics Private Limited (ZWAOPL) during the quarter ended 30 September, 2013. Consequently, Rallis India's shareholding in ZWAOL increased from 22.81 per cent to 27.75 per cent, as on September 30, 2013.
In October last year, the company had announced acquisition of a 22.8 per cent stake in Maharashtra-based firm ZWAOPL for Rs 10 crore.
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