Bayer CropScience Q3 results: Profit falls 31% to Rs 93.1 cr on soft demand

The company's profit fell to 931 million rupees ($11.2 million) during the three months ended Dec. 31 from 1.35 billion rupees a year earlier

December quarter results: Analysts expect tepid numbers — India also experienced the worst monsoon since 2018, resulting in tepid demand for agro-chemical products

Reuters BENGALURU

1 min read Last Updated : Feb 01 2024 | 7:33 PM IST

Bayer CropScience, the Indian unit of German drug and pesticide maker Bayer AG, reported a 31% fall in quarterly profit on Thursday, hurt by sluggish demand for its crop-protection products.

The company's profit fell to 931 million rupees ($11.2 million) during the three months ended Dec. 31 from 1.35 billion rupees a year earlier.

Revenue from operations fell 8% to 9.55 billion rupees.

The results come at a time when agro-chemical companies are grappling with reduced demand for crop-protection products and declining prices of glyphosate, a critical herbicide, amid intense competition from Chinese generic varieties.

India also experienced the worst monsoon since 2018, resulting in tepid demand for agro-chemical products.

(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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Bayer CropScience Q3 results: Profit falls 31% to Rs 93.1 cr on soft demand

The company's profit fell to 931 million rupees ($11.2 million) during the three months ended Dec. 31 from 1.35 billion rupees a year earlier