Bayer CropScience Q2 net profit up 20 pc at Rs 190 cr

New Delhi, Nov 7 (PTI) Bayer CropScience today posted a 19.79 per cent jump in its net profit at Rs 190.6 crore for the second quarter of this fiscal on higher sales.Its net profit stood at Rs 159.1 c

New Delhi, Nov 7 (PTI) Bayer CropScience today posted a 19.79 per cent jump in its net profit at Rs 190.6 crore for the second quarter of this fiscal on higher sales.

Its net profit stood at Rs 159.1 crore in the same quarter of the previous fiscal, the company said in a regulatory filing.

Total income increased to Rs 1,245.3 crore in the July- September period of the current fiscal from Rs 1,174.3 crore in the year-ago period.

Expenses remained slightly higher at Rs 954.6 crore as against Rs 931 crore in the period under review.

Bayer CropScience CEO and MD Richard Van der Merwe said: “Liquidation continued to be impacted because of erratic monsoons and uneven rainfall distribution.” Looking ahead, the company expects the difficult market conditions to persist. Therefore the outlook for the third quarter remains modest, he said.

The company said it has launched two new insecticides — ‘Sivanto prime’ for okra and ‘Movento’ for chillies, a fungicide ‘Emesto Prime’ for potatoes and an insecticide for professional pest management of ants called ‘Maxforce Quantum’. Three new rice hybrids were also launched.

Bayer CropScience has presence in seeds, crop protection and non-agri pest control.

Shares of the company closed 1.10 per cent higher at Rs 3,905 apiece on BSE today.

This is published unedited from the PTI feed.