 "Bayer CropScience Q1 results: Profit grew 9.6% to 279 cr; revenue up 17.4%")
Agricultural chemicals maker Bayer CropScience posted a 9.6per cent rise in first-quarter profit on Wednesday, backed by strong demand for its herbicide 'Roundup' and corn seeds.
The Indian unit of German drugs and pesticides maker Bayer AG posted a profit of 2.79 million rupees ($31,834.8) for the three months ended June 30, compared with 2.54 billion rupees a year earlier.
Revenue from operations grew 17.4per cent to 19.15 billion rupees.
KEY CONTEXT
India's agrochemical companies, both domestic-focused and export-oriented, are expected to report healthy volume growth on the forecast of a normal monsoon, analysts said.
The company said its growth in earnings is primarily driven by higher sales volume of corn seeds and its herbicide 'Roundup', supported by the early onset of monsoon.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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