Agrochemicals manufacturer Bayer CropScience announced Q2FY23 results:
- Bayer CropScience Limited (BCSL) registered revenue from operations of Rs14,519 million as compared to Rs 13,651 million in the corresponding period of FY21-22.
- Profit Before Tax stood at Rs 2,290 million, compared to Rs 2,195 million in the corresponding period of the previous financial year.
- BCSL reported Revenue from operations of Rs 31,193 million, compared to Rs 27,810 million for the corresponding period in FY 2021-22.
- Profit Before Tax for the H1 that ended on September 30, 2022, stood at Rs 6,113 million, compared to Rs 5,395 million for the corresponding period in FY21-22.
Simon-Thorsten Wiebusch, Executive Director BCSL, said, “Our continuing revenue growth in Q2 was driven largely by strong demand and product liquidation of our crop protection portfolio despite continuing supply chain challenges and a tough hybrid rice season. Supportive commodity prices led to better acreages and strong sales of Corn seeds. A near-normal monsoon in most parts of the country, except Uttar Pradesh, Bihar and West Bengal, also aided positive demand momentum. Our efforts of reaching larger segments of smallholder farmers through alternate go-to-market initiatives such as Sahbhaagi and Better Life Farming Centers are also steadily gaining ground.”