Bayer Cropsciences Q3 PAT turns around to net profit of Rs84.80cr on exceptional gains

7 Feb 2022 , 07:42 AM

Bayer Cropsciences reported 7.83% growth in of total sales for the Dec-21 quarter on consolidated basis at Rs990.10cr. On a sequential basis, the revenues were sharply lower for the quarter by -27.47%.

During the quarter, the sales were sharply lower on a sequential basis. That is more due to the seasonal nature of the agri care business which tends to oscillate with the cycles of cropping seasons and the monsoons.

The company has sold its seeds distribution business and globally integrated the business of Monsanto.

The consolidated Profit after tax (PAT) for the Dec-21 quarter turned around from a net loss of Rs-45.10cr in the year ago quarter to a net profit of Rs84.80cr in the current quarter.

This turnaround was largely on account of an exceptional gain of Rs58cr from the separation of employees after Monsanto merger and the sale of the seeds distribution business.

Inventory efficiency gains also helped in the quarter. Net margins turned around from -4.91% in the Dec-20 quarter to 8.56% in the Dec-21 quarter. Net margins were lower sequentially.

Financial highlights for Dec-21 compared yoy and sequentially

	Bayer Cropsciences
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 990.10	₹ 918.20	7.83%	₹ 1,365.10	-27.47%
Net Profit (Rs cr)	₹ 84.80	₹ -45.10	N.A.	₹ 154.10	-44.97%
Diluted EPS (Rs)	₹ 18.87	₹ -10.03		₹ 34.29
Net Margins	8.56%	-4.91%		11.29%