Bayer CropScience profit up 19 pc at Rs 190.6 cr in Q2 FY18

Bayer CropScience Ltd today said its profit jumped by 19.79 per cent at Rs 190.6 crore for the quarter ended September 2017 as compared to profit of Rs 159.1 crore in the Q2FY17.
The company registered revenue from operations of Rs 1,232 crore for Q2 FY18, marking an increase of 6 per cent from Rs 1,160 crore for the corresponding quarter in FY17, a company statement said here.
For the half-year ended September 30, 2017, the company posted lower revenue from operations of Rs 1,969.1 crore as compared to Rs 2,015.5 crore for the corresponding quarter in H1 FY17, it said.

The half-yearly performance was affected due to a poor first quarter and the impact of GST introduction. The company reported profit for the period of Rs 302.3 crore in H1 FY 2017-18, said the release.
"We achieved a 6 per cent growth in Q2, FY18 compared to Q2, FY17. Sales figures for the corresponding quarter of last year included excise duty, which is now included in GST.
"Liquidation continued to be impacted because of erratic monsoons and uneven rainfall distribution. Looking ahead, we expect the difficult market conditions to persist. Therefore our outlook for Q3 remains modest," Bayer CropScience managing director Richard van der Merwe said.

Elaborating on the highlights for H1 FY18, Merwe said, "Bayer CropScience continued to introduce innovation to the Indian market in the form of new product launches. In crop protection, we launched two new insecticides: Sivanto prime for okra and Movento for chillies."

The company has also launched a new fungicide, Emesto Prime for potatoes. In Seeds, we launched three new rice hybrids: Arize AZ 8433 DT, Arize AZ 6453 and Arize AZ 6508.
Arize 8433 DT is our hybrid rice seed with inbuilt protection against one of the worst pests in Indian rice fields, the brown plant hopper (BPH).
In environmental science, we launched Maxforce Quantum, an insecticide for professional pest management of ants, he said.