Bayer Cropscience reported a net profit of Rs 31.50 crore in Q4 March 2020 as against a net loss of Rs 57.1 crore in Q4 March 2019.Net sales for quarter ending March 2020 stood at Rs 459 crore, up 82% from Rs 252.20 crore in the same period last year.
The company reported pre-tax profit of Rs 25.7 crore in Q4 March 2020 as against a pre-tax loss of Rs 95 crore in Q4 March 2019.
Commenting on the Q4results, D. Narain, CEO & managing director of Bayer CropScience, stated, "A good monsoon in 2019 ensured sufficient water reserves for Rabi sowing. This coupled with stable commodity prices, favorable climate and strong portfolio performance in corn and horticulture,helped us achieve strong growth in Q4. However, Covid-19 developments in late March and the ensuing lockdown led to short-term disruption in consumption for crop protection products."
Sharing an outlook for the future, D. Narain, said, "With the ongoing Covid-19 situation, the external business environment remains uncertain in the short term. However, agriculture and food production will continue to be essential for good health and nutrition. The transformational agri-reforms announced by the government will help India become more self-reliant and food secure. It will also enhance livelihoods and incomes of millions of smallholder farmers. Bayer will continue to support Indian farmers through access to seeds & crop protection inputs, product innovation and crop advisory. Going forward, we will focus on new business models and value chain collaborations to expand the reach of our agri-solutions, support scale-up of FPOs and digital farming solutions."
The board of directors have recommended a dividend payment of Rs 25 per equity share for the financial year ended 31 March 2020, subject to shareholders' approval.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition.
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