Bayer CropScience Limited announced its unaudited results for the first quarter (Q1) of the Financial Year (FY) 2024-25. For Q1 ended June 30, 2024, the Company registered Revenue from Operations of Rs 16,312 million, compared to Rs 17,396 million in the corresponding period of FY 2023-24. Profit Before Tax for the quarter stood at Rs 3,158 million, compared to Rs 4,061 million in the corresponding quarter of the previous financial year.
Commenting on the quarterly results, Simon Wiebusch, Vice Chairman/Managing Director and CEO, Bayer CropScience Limited said, “Despite the slow progression of monsoons and the impact of low reservoir levels on our first quarter, we still achieved a 3% growth in liquidation. Business picked up towards the end of June, coinciding with increased farming activity, indicating a positive market shift. However, supply constraints in our seeds business affected availability and increased the cost of corn seeds. Although revenue from operations declined, we maintain optimism for the upcoming season due to promising monsoon coverage across the country. Nevertheless, we remain sensitive to rain distribution, cropping patterns, and price pressure resulting from high industry inventories.”
Simon Britsch, Chief Financial Officer, Bayer CropScience Limited, while speaking about the quarterly results said, “We continue to focus on sustained operational expense management and rigorous working capital discipline, including targeted efforts in receivable collections. As we look forward, we maintain an optimistic outlook on our future prospects, confident in our ability to build momentum and steady growth investments.”
