Rallis India announced a sharp rise in consolidated net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 71.40% to Rs 193.00 million from Rs 112.60 million in the same quarter previous year.

Net sales for the quarter rose 16.35% to Rs 3,314.60 million, compared with Rs 2,849 million for the prior year period.

''I am pleased that the company has scaled a new milestone of Rs 18 billion in gross revenues. While this has been a good monsoon year overall, the rainfall conditions through the agricultural seasons have not been conducive throughout. With intense farmer level activities our key brands have continued to serve well the needs of the farming community driving our relationships forward. The year saw good growth in volumes in both domestic and international businesses, and we also saw value firm-up as the year progressed,'' said, V Shankar, managing director and chief executive, Rallis India.

Shares of the company gained Rs 7.8, or 4.68%, to trade at Rs 174.50. The total volume of shares traded was 111,968 at the BSE (9.59 a.m., Wednesday).