Bayer CropScience’s Q2 net profit rose 37% to ₹ 222.9 crore on higher sales.

Bayer CropScience Ltd reported a 37% rise in net profit to ₹222.9 billion for the September quarter. In the same period last year, the company had a profit of 162.6 million euros.  Sales for the September quarter rose 11.38 percent year-on-year to ₹ 1,617.2 billion.  In the first half of the current financial year, Bayer earned ₹551.4 billion, up 18 percent from ₹465.2 billion in the same period last year. Revenue for the period grew by about eight percent at ₹ 3,393.6 billion from ₹ 3,147.3 billion in the previous year. Simon Wiebusch, Vice President, Managing Director, and CEO of BCSL, said,  “In a challenging environment of delayed, incomplete, and erratic monsoons and elevated COGS, we delivered a strong  11 percent growth in operating income in Q2”. Around-volume growth was driven by good .availability and market demand significantly lower prices DeKalb seed corn sales driven by favorable areas and commodity prices and strong liquidation of our crop protection portfolio continue to be our key growth drivers with LAUDIS, NATIVO, and COUNCILactiv performing particularly well.   

Commenting on the half-year results, BCSL chief financial officer Simon Britsch said, “Strong operating cost management and continued focus on maintaining optimal channel shares, combined with consistent portfolio performance, particularly in maize seed and crop protection, delivered results for us. Pre-tax profit increased by 16 percent. We continue to drive sustainable growth through investment through which digitalization is the main pillar. The drone shower service offered under this roof currently covers six states of the country.   The Board of Directors of the Company in its meeting held on 03.11.2023 decided to pay an interim dividend of ₹ 105 per share for 24 financial years at ₹ 10 per share.

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