Bayer CropScience on Monday reported a profit of Rs 137.9 crore for the October-December quarter of 2019 against Rs 63.1 crore in the year-ago quarter.
Total income rose to Rs 873.4 crore in the quarter from Rs 791.1 crore in October-December 2018, the company said in a regulatory filing.
Commenting on the Q3 results, Bayer CropScience Managing Director and CEO D Narain said, "Prolonged monsoon in October 2019 resulted in a delay in rabi sowing, but good weather in November and December contributed to higher sales and liquidation across India, positively impacting our Q3 performance."
In the third quarter, the company also benefited from early gains arising from its integrated product portfolio, cost synergies and one-time consolidation effects, he added.
Revenue from operations was at Rs 854 crore during the quarter under review, while it was at Rs 775.1 crore in the corresponding period of 2018-19.
Operating profit was at Rs 161.2 crore in October-December 2019 against Rs 83.7 crore in the corresponding period of the previous financial year.
Revenue from operations was at Rs 854 crore during the quarter under review, while it was at Rs 775.1 crore in the corresponding period of 2018-19.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition.
"We are progressing well on the integration and are geared up for a strong spring season. Supportive commodity prices and good water availability resulted in a favourable rabi season and will continue to support improved sales growth for the rest of the financial year," Narain added.
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