Financial Year 2018-19: Quarterly Results
Bayer CropScience Limited reports Q3 results
- Revenue from Operations of Rs. 6,210 million, marking increase of 29 percent compared to previous FY
- Profit for the period of Rs. 275 million
Mumbai, February 4, 2019: Bayer CropScience Limited (BSE: 506285) announced today its unaudited results for the quarter and nine months ended December 31, 2018.
In Q3 of FY 2018-19, the Company registered Revenue from Operations of Rs. 6,210 million, marking an increase of 29 percent, as compared to Rs. 4,797 million in the corresponding period of FY 2017-18. Profit for the period stood at Rs. 275 million, compared to Rs. 107 million in the corresponding period of the previous financial year.
Speaking about the quarterly results, D. Narain, Vice Chairman & Managing Director, Bayer CropScience Limited, said: “Against a comparably soft quarter in the previous financial year, we achieved good growth in Q3 due to our strong performance in Rice, Fruits and Vegetables.”
For the nine months ended December 31, 2018, Bayer CropScience Limited reported Revenue from Operations of Rs. 25,569 million compared to Rs. 24,488 million for the corresponding period in FY 2017-18. Profit for the period stood at Rs. 3,174 million compared to Rs. 3,130 million for the corresponding period in FY 2017-18.
Sharing the company’s future outlook, D Narain further stated: “We have a strong conviction on the long-term potential of the market with significant opportunities to add sustainable value to our customers (farmers) through product innovation. However, in the near-term overall crop economics in India continue to be stressed.”
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
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.