Kaveri Seed Q2 PAT triples to ₹ 10.72 billion

Kaveri Seed Company’s net profit for the second quarter ended 09/30/2023 increased three times to ₹ 10.72 billion as compared to ₹ 2.72 billion in the same quarter last year. The company posted revenue of ₹ 96.12 (₹ 84.49) during the quarter. The board recommended a dividend of ₹5 per share of ₹2.  “Despite stable volumes in rice and cotton, our strategic approach has resulted in better realizations for significant revenue growth, significantly improving margins,” said Chairman and Managing Director GV Bhaskar Rao.  “Not only are we witnessing unprecedented success in our vegetable business, but we are also aggressively expanding our footprint in international markets. We are now focusing on countries like Tanzania, Algeria, Ivory Coast, Thailand, the Middle East, and Bangladesh,  The company posted a net profit of ₹ 278.56 crore during the first half of the financial year against ₹ 243.39 crore in the previous year,  a growth of 14.45 percent. Revenue for the period is estimated at ₹863.42 crore (₹816.44 crore), up 5.75 percent.

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