MUMBAI, 8 February 2023: Bayer CropScience Limited (BSE: 506285) announced today its unaudited results for the quarter and ine 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 ₹ 10,379 million, as compared to ₹ 9,901 million in the corresponding period of FY 2021-22.
Profit Before Tax (Before Exceptional Items) stood at ₹ 829 million, compared to ₹ 593 million in the corresponding period of FY 2021-22. Profit Before Tax (After Exceptional Items) stood at ₹ 1,836 million as compared to ₹ 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 ₹ 41,572 million, compared to ₹ 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 ₹ 6,942 million, compared to ₹ 5,988 million for the corresponding period in FY 2021-22. Profit Before Tax (After Exceptional Items) stood at ₹ 7,949 million as compared to ₹ 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 ₹ 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.”
