Bayer CropScience today posted a 14.86 per cent fall in net profit at Rs 111.7 crore in the first quarter of the current fiscal on poor sales. Its net profit stood at Rs 131.2 crore in the year-ago period, the company said in a BSE filing. Net income fell to Rs 753.4 crore in the April-June period of 2017-18 from Rs 874.8 crore in the year-ago period. Expenses remained lower at Rs 631.2 crore as against Rs 675.5 crore in the said period. The company informed that its shareholders have approved buy back of 10.20 lakh shares comprising 2.89 per cent of the total equity capital at a price of Rs 4,900 per share. Bayer CropScience has presence in seeds, crop protection, and non-agri pest control. Shares of the company fell by 4.05 per cent to close at Rs 4,260 apiece on BSE today.
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