On Friday, Bayer CropScience jumped 3.87 per cent to Rs 5485.05 after the company’s net profit rose 19.3 per cent to Rs 302.60 crore on a 17.8 per cent rise in net sales to Rs 1667.40 crore in Q1FY223 over Q1FY22.
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The company’s net profit surged 98.17 per cent, and net sales jumped 73.09 per cent in the first quarter of 2022 compared to the fourth quarter of the year 2022. Profit before tax (PBT) surged 101.74 per cent quarterly and jumped 19.5 per cent. Every year too, Rs 382.30 crore in Q1FY23. The overall expense had climbed 16.3 per cent to Rs 1272.30 crore in the first quarter of FY23. The cost of raw materials consumed stood at Rs 875.90 crore, and employee expenses stood at Rs 126.10 crore.
Simon Britsch, chief financial officer, Bayer CropScience, while speaking about the quarterly results, said, “We are happy to continue our growth momentum in the new financial year despite challenges of rising operational expenses owing to costs coming back to pre-Covid levels and inflationary pressures. We have also significantly invested in promotions and branding ahead of the Kharif season. Developments in global oil prices continue to impact operating costs.”
