Total income increased to Rs 873.4 crore in the quarter from Rs 791.1 crore in October-December 2018, the company mentioned in a regulatory filing.
Bayer CropScience Limited (BSE: 506285) recently announced its unaudited results for the quarter and nine months ended December 31, 2019. In the third quarter (Q3) of Financial Year (FY) 2019-20, Bayer CropScience Limited earned Revenue from Operations of ₹8,540 million, as compared to ₹7,751 million in the corresponding period of FY 2018-19. Profit before Exceptional Items and Tax stood at ₹1,612 million, compared to ₹837 million in the corresponding period of the previous financial year.
Commenting on the Q3 results, D. Narain, Managing Director & CEO, Bayer CropScience Limited, said, “Prolonged monsoon in October 2019 resulted in a delay in Rabi sowing, but good weather in November and December contributed to higher sales and liquidation across India, positively impacting our Q3 performance. In Q3, we also benefitted from early gains arising from our integrated product portfolio, cost synergies and one-time consolidation effects.”
For the nine months ended December 31, 2019, Bayer CropScience Limited reported Revenue from Operations of ₹31,507 million, compared to ₹29,151 million for the corresponding period in FY 2018-19. Profit before Exceptional Items and Tax for the nine months ended December 31, 2019 stood at ₹6,590 million, compared to ₹5,750 million for the corresponding period in FY 2018-19. The results for the nine months ended December 31, 2018, and year ended March 31, 2019, include results of erstwhile Monsanto India Limited from June 7, 2018, (the date on which Monsanto Company, USA was acquired by Bayer AG) and are therefore not comparable.
Sharing an outlook for the year ahead, D. Narain further stated, “We are progressing well on the integration and are geared up for a strong spring season. Supportive commodity prices and good water availability resulted in a favorable Rabi season and will continue to support improved sales growth for the rest of the financial year.”
