Bayer CropScience Limited reports Q4 & Annual Results

Bayer CropScience Limited (BSE: 506285) on Thursday announced its results for the financial year (FY) and quarter ended March 31, 2024. In FY 2023-24, the Company's Revenue from Operations remained flat at ₹51,032 million, compared to ₹51,397 million in the previous year. Profit Before Exceptional Items & Tax stood at ₹9,414 million, compared to ₹8,863 million in the previous year, representing an increase of 6%.

In Q4 of FY 2023-24, the Company registered Revenue from Operations of ₹7,915 million, compared to ₹9,825 million in the corresponding quarter of the previous year. Profit Before Exceptional Items & Tax for the quarter stood at ₹1,054 million, compared to ₹1,921 million in the corresponding quarter of the previous year.

Commenting on the quarterly results, Simon Wiebusch, Vice Chairman/Managing Director and CEO, Bayer CropScience Limited said, "Despite weather challenges and lower reservoir levels affecting crop protection volumes, our performance remained resilient. While revenue from operations witnessed a decline owing to Roundup™ price developments and proactive channel management, our corn seeds business continued its growth trend. Prudent spending kept operational expenses flat. We remain positive on the overall agricultural landscape in India and reconfirm our commitment to sustainable growth which entails dealing with the cyclical nature of our business proactively."

Speaking on the FY results, Simon Britsch, Chief Financial Officer, Bayer CropScience Limited said, "Our full-year performance reflects our fortitude amidst market shifts and extreme weather events. Despite challenges such as higher material cost, our strategic focus on channel inventory has ensured sustained market outperformance. Our proactive cost management also helped bolster our bottom line. With operational expenses lowered and a strong bottom line to show for it, we stand poised for continued growth and success."

Shares of Bayer Cropscience Limited was last trading in BSE at Rs. 5281.95 as compared to the previous close of Rs. 5578.20. The total number of shares traded during the day was 2331 in over 728 trades.

The stock hit an intraday high of Rs. 5472.60 and intraday low of 5265.25. The net turnover during the day was Rs. 12349000.00.

Source : Equity Bulls

Keywords

BayerCropscience INE462A01022 Q4FY24 FY2024 ResultUpdate FY24