Bayer CropScience Sees Triple Profit Surge in Q3

Bayer CropScience Ltd reported a nearly threefold profit jump to Rs 95.7 crore for the December quarter, driven by a strong corn seeds business leading to a 5% revenue increase. Weather challenges and varied crop demands impacted results, while the company focused on cost discipline.

Bayer CropScience Ltd has announced a significant financial performance for the December quarter, recording a close to threefold increase in profit, reaching Rs 95.7 crore. This remarkable achievement is attributed to heightened revenue and a robust corn seeds segment, which powered a 5% rise to Rs 1,106.2 crore.

Compared to the previous year's same quarter, which saw a profit of Rs 34.2 crore, the company's expenditure effectively reduced to Rs 1,009.1 crore, down from Rs 1,056 crore. Vice Chairman, Managing Director and CEO Simon Wiebusch highlighted weather volatility affecting crop protection but emphasized the company's focus on portfolio resilience and new product launches.

Executive Director and CFO Vinit Jindal noted that the positive growth in Q3 was driven by a favorable sales mix and stabilized input expenses, paired with stringent financial control. Despite market challenges, Bayer CropScience remains committed to delivering consistent value for stakeholders.

(With inputs from agencies.)