Bayer CropScience Reports Q1 FY 2024-25 Results, Revenue At Rs 16,312 Mn

Bayer CropScience disclosed its unaudited financial results for the first quarter (Q1) of Financial Year (FY) 2024-25, ending on 30 June 2024. The company reported a Revenue from Operations of Rs 16,312 million, a decrease from Rs 17,396 million in the corresponding quarter of FY 2023-24.

Profit Before Tax (PBT) for Q1 stood at Rs 3,158 million, down from Rs 4,061 million in the same period last year.

Simon Wiebusch, Vice Chairman/Managing Director and CEO of Bayer CropScience, addressed the results, stating, “Despite the slow progression of monsoons and the impact of low reservoir levels on our first quarter, we still achieved a 3% growth in liquidation. Business picked up towards the end of June, coinciding with increased farming activity, indicating a positive market shift. However, supply constraints in our seeds business affected availability and increased the cost of corn seeds. Although revenue from operations declined, we maintain optimism for the upcoming season due to promising monsoon coverage across the country. Nevertheless, we remain sensitive to rain distribution, cropping patterns, and price pressure resulting from high industry inventories.”

Simon Britsch, Chief Financial Officer of Bayer CropScience, highlighted the company’s focus on operational efficiency, saying, “We continue to focus on sustained operational expense management and rigorous working capital discipline, including targeted efforts in receivable collections. As we look forward, we maintain an optimistic outlook on our future prospects, confident in our ability to build momentum and steady growth investments.”

The company remains cautiously optimistic about the upcoming quarters, with a focus on navigating challenges posed by weather patterns and industry dynamics.