BackBayer CropScience Q3 profit surges 58.60% to Rs134.5 crore
Bayer CropScience said its revenue from operations rises 4.82% to Rs1,037.9 crore during the December quarter
PremiumNEW DELHI : Bayer CropScience Ltd (BCSL) on Tuesday posted a 58.60% increase in its net profit for the December quarter of fiscal year 2023 at Rs134.5 crore.
During the corresponding quarter of the previous fiscal year, BCSL’s net profit was at Rs84.8 crore.
In a regulatory filing, Bayer CropScience said its revenue from operations rose 4.82% to Rs1,037.9 crore during the December quarter as against Rs990.1 crore in the same period a year ago.
“Our third quarter revenue growth from operations was driven by corn seeds and herbicides, supported by double-digit liquidation growth of crop protection portfolio and strong recovery in Rabi corn," Bayer CropScience executive director Simon-Thorsten Wiebusch said in the statement.
Shares of Bayer CropScience on Tuesday rose 2.57% to close at Rs4,496.65 apiece on the BSE.
In the third quarter of FY23, BCSL completed the sale of its environmental science business with an income of Rs1,00.7 crore.
In the second quarter ended 30 September of fiscal year 2023, Bayer Cropscience had reported a 5.51% rise in its net profit at Rs162.6 crore.
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