Bayer CropScience Q3FY22 Results: Posts profit of Rs 84.8 crore YoY against a loss of Rs 45.1 crore

Bayer CropScience Limited (BSCL) today reported a profit of Rs 84.8 crore for the quarter ended December 31, 2021, as compared to a loss of Rs 45.1 crore posted in the corresponding period of FY 2020-21

The company's revenue from operations grew 7.83 per cent YoY to Rs 990.1 crore in the period under consideration against a profit of Rs 918.2 crore posted in the corresponding quarter last year.

Profit Before Exceptional Items and Tax stood at Rs 59.3 crore, down 44.10 per cent from Rs 106.1 crore in the corresponding period of FY 2020-21. Profit Before Tax (After Exceptional Items) stood at Rs 117.8 crore, up 11.02 per cent, from Rs 106.1 crore posted in the corresponding period of FY 2020-21.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) dropped by 37.45 per cent to Rs 66.3 crore in the reported quarter against Rs 106 crore posted last year.

Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Ltd. said, "Our Q3 revenue from operations has registered an 8% growth over the same period last year despite unseasonal rains, crop infestations and a challenging rabi corn season. Growth was largely driven by our Crop Protection portfolio that witnessed a surge in demand with double-digit liquidation growth sustained by our strategy of prudent channel management and demand generation. Overall profitability was impacted by higher input and operational costs which included building out new business models for increasing market reach to smallholders, corn seed returns and obsolescence effects, offset by the exceptional income arising from the sale of the business of mustard, cotton, millet and sorghum seeds."

From April to December 2021, Bayer conducted drone trials for spraying purposes as an agriculture industry-first. Bayer's Better Life Farming (BLF) global value chain initiative also entered into multiple strategic alliances to support over 500,000 smallholder farmers across the country.

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and ageing global population.