Bayer CropScience Limited (BSE: 506285) announced today its unaudited results for the nine months and quarter ended December 31, 2017. For the nine months ended December 31, 2017, the Company registered Revenue from Operations of Rs. 24,488 million, compared to Rs. 27,104 million in the corresponding period of FY 2016-17. Profit for the period stood at Rs. 3,130 million and Export Sales were Rs.1,795 million.
In the third quarter, the Company registered Revenue from Operations of Rs. 4,797 million, marking a decrease from Rs. 6,949 million for the corresponding quarter of FY 2016-17. Profit for the period stood at Rs. 107 million. Please note that the sales figures for the corresponding quarter of FY 2016-17 included excise duty, which is now included in GST.
Commenting on the third quarter results and future outlook, Richard van der Merwe, Vice Chairman & Managing Director, Bayer CropScience Limited, said: “Erratic rainfall in October disrupted normal agricultural operations and affected our sales. Low commodity prices led to farmers reducing their use of agrochemicals. We are hopeful that a good monsoon in 2018 will help to improve the market situation. With our pipeline of innovative products and solutions, we will continue to collaborate with farmers to shape the future of Indian agriculture.”
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2016, the Group employed around 99,600 people and had sales of EUR 34.9 billion. Capital expenditures amounted to EUR 2.2 billion, R&D expenses to EUR 4.4 billion. For more information, go to www.bayer.com
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.