FY 2018-19: Quarterly Results
Bayer CropScience Limited reports Q2 results
Mumbai, October 23, 2018: Bayer CropScience Limited (BSE: 506285) announced today its unaudited results for the quarter and half-year ended September 30, 2018. In Q2 of FY 2018-19, the Company registered Revenue from Operations of Rs. 11,041 million as compared to Rs.12,320 million in the corresponding period of FY 2017-18. Profit for the period stood at Rs.1,427 million, compared to Rs.1,906 million in the corresponding period of the previous financial year. Commenting on the second quarter results and future outlook, Richard van der Merwe, Vice Chairman & Managing Director, Bayer CropScience Limited, said: “Sales were affected due to an erratic season marked by uneven rainfall and hailstorms that damaged standing crops in several parts of the country. Based on opportunities in the fruits & vegetables segment and in rice, we expect a good performance in the third quarter and for the rest of the year.” For the half-year ended September 30, 2018, the Company reported Revenue from Operations of Rs.19,359 million compared to Rs.19,691 million for the corresponding period in FY 2017-18. Profit for the period stood at Rs. 2,899 million.
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2017, the Group employed around 99,800 people and had sales of EUR 35 billion. Capital expenditures amounted to EUR 2.4 billion, R&D expenses to EUR 4.5 billion. For more information, go to www.bayer.com Media Contact
Crop Science Communications, Bayer Group in India
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.