Bayer CropScience Limited reports Q2 results for FY 2019-20
- Revenue from Operations of ₹13,463 million
- Profit Before Exceptional Items and Tax of ₹2,943 million
Bengaluru, November 12, 2019: Bayer CropScience Limited (BSE: 506285) announced today its unaudited results for the quarter (Q2) and half year ended (H1) September 30, 2019.
On September 16, 2019, the “Scheme of Amalgamation” of Monsanto India Limited (MIL) with Bayer CropScience Limited (BCSL) became effective. The Q2 & H1 results ended September 30, 2019, include results of erstwhile MIL. The results for H1 ended September 30, 2018 and year ended March 31, 2019 include results of erstwhile MIL from June 7, 2018 (the date on which Monsanto Company, USA was acquired by Bayer AG) and are therefore not comparable.
For Q2 ended September 30, 2019, BCSL registered Revenue from Operations of ₹13,463 million as compared to ₹12,339 million in the corresponding period of FY 2018-19. Profit Before Exceptional Items and Tax1 stood at ₹2,943 million, compared to ₹2,409 million in the corresponding period of the previous financial year.
For the H1 ended September 30, 2019, BCSL reported Revenue from Operations of ₹22,967 million compared to ₹21,400 million for the corresponding period in FY 2018-19. Profit Before Exceptional Items and Tax for the H1 ended September 30, 2019 stood at ₹4,978 million, compared to ₹4,913 million for the corresponding period in FY 2018-19.
Commenting on the financial results, D. Narain, Managing Director, Bayer CropScience Limited, said, “In Q2, our business recovered from the slow onset of monsoons with a good Kharif planting season and was aided by strong performances in key crops including corn and vegetables.”
Sharing a future outlook, D. Narain said, “While post monsoon non-seasonal rain in key markets have caused crop damages, with the overall improvement in water availability across the country, we expect a favorable Rabi season.”
1 The exceptional items consist of provision towards stamp duty, employee separation, professional/ consulting fees and other costs related to amalgamation of MIL with BCSL.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.
Communications, Bayer Group in India
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