Bayer CropScience Ltd. (NSE:BAYERCROP) is a leading agricultural company that provides a wide range of products and services to farmers and other stakeholders in the agriculture sector. The company is a subsidiary of Bayer AG, a German multinational pharmaceutical and life sciences company. Bayer CropScience operates in India and is headquartered in Mumbai. The company offers various crop protection products, seeds, and traits to farmers, including herbicides, insecticides, fungicides, and seed treatment solutions. It also provides solutions for digital farming, precision agriculture, and other innovative farming practices.
Bayer CropScience Limited reported a growth in Revenue from Operations in Q3 of FY 2022-23, earning Rs. 10,379 million compared to Rs. 9,901 million in the corresponding period of FY 2021-22. Profit Before Tax (Before Exceptional Items) also increased to Rs. 829 million from Rs. 593 million in the same period last year. Profit Before Tax (After Exceptional Items) stood at Rs. 1,836 million, a significant increase from Rs. 1,178 million in the same period last year.
For the nine months ended December 31, 2022, BCSL reported Revenue from Operations of Rs. 41,572 million, a growth from Rs. 37,711 million for the corresponding period in FY 2021-22. Profit Before Tax (Before Exceptional Items) for the nine months ended December 31, 2022, stood at Rs. 6,942 million compared to Rs. 5,988 million for the corresponding period in FY 2021-22. Profit Before Tax (After Exceptional Items) stood at Rs. 7,949 million, a growth from Rs. 6,573 million in the same period last year.
The growth was attributed to the performance of corn seeds and herbicides, supported by double-digit liquidation growth of crop protection portfolio and strong recovery in Rabi corn. BCSL concluded the sale of its Environmental Science business in Q3 of FY 2022-23 with an exceptional income of Rs. 1,007 million. BCSL is continuing on its growth trajectory while focusing on maintaining profitability despite inflationary pressures and other external challenges.