Bayer CropScience Reports Resilient Profit Growth Amid Challenging Climate
Bayer CropScience Ltd announced a 12% rise in quarterly net profits despite a reduction in total income. Unpredictable weather hampered field activities, although the corn seed business thrived. The Board declared an interim dividend of Rs 90 per share, reflecting the company's robust market standing.
- Country:
- India
Bayer CropScience Ltd reported a remarkable 12% increase in net profit to Rs 152.7 crore for the fiscal's second quarter, despite a challenging business climate.
According to a regulatory filing, the company's total income decreased to Rs 1,567.2 crore during the July-September period, down from Rs 1,761.3 crore in the same period last year.
CEO Simon Wiebusch highlighted the adverse impact of prolonged rains on field activities, reducing revenue from the Crop Protection segment, although their corn seed business prospered. The Board has approved an interim dividend of Rs 90 per equity share.
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