Agrochemical major Bayer Crop Science Ltd (BSCL) has reported a 39 per cent drop profits at ₹136.3 crore for the September quarter on higher expenses. The company had reported a profit of ₹222.9 crore in the same period last year.

Operational revenues for the quarter were up 7.42 per cent at ₹1737 crore over corresponding previous year’s ₹1617 crore. Profit before tax stood at ₹190.1 crore, compared to ₹305.7 crore in the corresponding last year.

For the H1 ended September 30, 2024, BCSL reported operational revenue of ₹3368.8 crore compared to same period last year’s ₹3356.8 crore. PBT for the H1 stood at ₹505.9 crore, compared to ₹711.8 crore for the corresponding period in FY 2023-24.

Simon Wiebusch, Vice Chairman & Managing Director and CEO, BCSL said, “In Q2 BCSL achieved a 7 per cent increase in Revenue from Operations primarily driven by higher volumes which were partially offset by price pressure rooted in lower producer prices in China. Moreover, our margins were negatively impacted by higher production costs in corn seeds due to adverse weather conditions as well as a higher cost of goods sold in our chemical business. Despite these headwinds, we are looking forward to a stronger rabi and spring season, delivering sustainable, long-term value for our stakeholders.”

Simon Britsch, Chief Financial Officer, BCSL said, “We maintain our strong focus on cash flow generation and prudent operational expense management. However, we witnessed one-time effects from higher receivables and employee severance provisions. As we look forward, we are confident in our ability to continue with further growth investments and distributing a significant share of our profit to our owners.”

The BSCL board has declared an interim dividend of ₹90/- per equity share of face value ₹10 for the financial year ending March 31, 2025, amounting to ₹404.5 crore. The BSCL scrip ended 3.81 per cent lower at ₹6076.95 on BSE in a weak market.

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