India - Bayer CropScience posts Rs 10,379 Mn consolidated revenue in Q3 FY22-23

Bayer CropScience Limited has announced its unaudited results for the quarter and nine months ended December 31, 2022.

In the third quarter (Q3) of Financial Year (FY) 2022-23, Bayer CropScience Limited (BCSL) earned Revenue from Operations of Rs. 10,379 million, as compared to Rs. 9,901 million in the corresponding period of FY 2021-22. Profit Before Tax (Before Exceptional Items) stood at Rs. 829 million, compared to Rs. 593 million in the corresponding period of FY 2021-22. Profit Before Tax (After Exceptional Items) stood at Rs. 1,836 million as compared to Rs. 1,178 million in the corresponding period of FY 2021-22.

For the nine months ended December 31, 2022, BCSL reported Revenue from Operations of Rs. 41,572 million, compared to Rs. 37,711 million for the corresponding period in FY 2021-22. Profit Before Tax (Before Exceptional Items) for the nine months ended December 31, 2022, stood at Rs. 6,942 million, compared to Rs. 5,988 million for the corresponding period in FY 2021-22. Profit Before Tax (After Exceptional Items) stood at Rs. 7,949 million as compared to Rs. 6,573 million in the corresponding period of FY 2021-22.

Commenting on the company's performance, Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Ltd. said, "Our Q3 revenue growth from operations was driven by corn seeds and herbicides, supported by double-digit liquidation growth of crop protection portfolio and strong recovery in Rabi corn."

Simon Britsch, Chief Financial Officer, BCSL said, "BCSL concluded the sale of its Environmental Science business in Q3 of FY 2022-23 with an exceptional income of Rs. 1,007 million. The portfolio adjusted Revenue from Operations grew by 6.7% and by 11.8% for the quarter and nine months ended December 31, 2022, respectively. BCSL is continuing on its trajectory with sustained growth investments while focusing on maintaining profitability despite inflationary pressures and other external challenges."