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Income from operations declined by 1.19 per cent to Rs 1,365.1 crore, in comparison with Rs 1,381.6 crore in the identical quarter of the earlier fiscal.
“Our second quarter income declined by 1 per cent in comparison with final yr. General profitability was impacted by a difficult season for our corn seeds portfolio and strain on margins in our Crop Safety enterprise.
“The Kharif corn season witnessed a drop in acreages owing to decrease relative profitability of corn for the grower versus different crops, in addition to some weather-related occasions resulting in larger seeds returns within the second quarter,” Bayer CropScience CEO and Managing Director D Narain mentioned.
Crop Safety enterprise was impacted by larger materials and logistics prices and product combine, partially offset by product worth will increase, he mentioned.
“We’ll proceed to focus our investments on capability constructing packages for smallholder farmers in India, particularly via the persevering with growth of the Higher Life Farming program and new enterprise fashions corresponding to eCommerce and Meals Chain Partnerships.
“With drones now being out there for agriculture, we stay up for accelerating improvements that foster precision farming, useful resource efficiencies and sustainability,” Narain added.
The corporate’s shares on Monday closed at Rs 5,020, up 0.60 per cent on BSE.
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