India's Bayer CropScience posts lower quarterly profit as costs rise

Date:02-13-2025

• Revenue from Operations of ₹ 10,569 million

• Profit Before Tax of ₹ 336 million

Bayer CropScience Limited (BSE: 506285) announced on Tuesday its unaudited results for the quarter and nine months ended December 31, 2024.

In the third quarter (Q3) of Financial Year (FY) 2024-25, Bayer CropScience Limited (BCSL) earned Revenue from Operations of ₹ 10,569 million, as compared to ₹ 9,549 million in the corresponding period of FY 2023-24. Profit Before Tax stood at ₹ 336 million, compared to ₹ 1,242 million in the corresponding period of FY 2023-24.

For the nine months ended December 31, 2024, BCSL reported Revenue from Operations of ₹ 44,257 million, compared to ₹ 43,117 million for the corresponding period in FY 2023-24. Profit Before Tax for the nine months ended December 31, 2024, stood at ₹ 5,395 million, compared to ₹ 8,360 million for the corresponding period in FY 2023-24.

Commenting on the quarterly performance, Simon Wiebusch, Vice Chairman, Managing Director and Chief Executive Officer, BCSL said, ″In Q3, BCSL saw a 11% increase in Revenue from Operations, mainly driven by growth in our Corn business. We prioritized market share gains and launches of new hybrids. Improved reservoir levels compared to last year helped rice cultivation in the South, though growth and profit in our agrochemical business was tempered by reduced investments in the chilli crop. Overall, the current growing season shows good liquidation.″

Simon Britsch, Whole-time Director (Executive) and Chief Financial Officer, BCSL said, ″Continuing cost efficiency measures were offset by targeted investments in promotional activities as well as provisions for doubtful receivables, attributable to a challenging agricultural economy. We are actively engaged in recovery efforts.″

BCSL welcomes Vinit Jindal as Whole-Time Director designated as Executive Director and Chief Financial Officer, effective March 01, 2025, as part of a planned leadership transition. BCSL also extends its gratitude to Simon Britsch for his successful efforts and strong commitment to the sustainable growth of BCSL during his tenure.