Rallis India, a Tata Group company engaged in agrochemical business, reported its second-quarter results on Tuesday. 

What Happened: Rallis reported a 19.51% year-on-year jump in net profit to ₹98 crore. The company's revenue jumped 11.53% from the previous year to ₹832 crore. Its EBITDA increased by 24% to ₹166 crore. 

In the corresponding quarter of the previous year, the company reported a ₹82 crore net profit, ₹832 crore in revenue and an EBITDA of ₹133 crore. 

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The firm’s crop care revenue increased by 7% to ₹787 crore. The domestic crop care volumes increased by 17% in the quarter which offset the price drop which resulted in 11% revenue growth. The company’s flat export volume coupled with price drops resulted in 9% revenue decline in the segment.

The company's seeds revenue went up by 48% to ₹141 crore due to better Kharif liquidation. The company sees strong momentum in North cotton hybrids, while paddy and maize reported lower sales.

Price Action: Shares of Rallis India rose 13.95% to ₹367.50 on Wednesday. 

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