Rallis India Q2 net rises 28% on higher kharif acreage

A seven per cent increase in the kharif acreage has helped Rallis India report a 28 per cent increase in net profit for the quarter ended September 30, 2010. The net profit for the quarter under review stood at Rs 58.7 crore as against Rs 45.7 crore in the corresponding quarter last year.The company's net sales for the quarter stood at Rs363 crore, a growth of 15 per cent over Rs 317 crore in the corresponding quarter last year. The key growth drivers were thought to be a good monsoon, which resulted in the kharif crop acreage increasing by seven per cent and significant growth in exports.