Bayer CropScience Limited reported a profit of Rs 84.8 crore for the quarter ended December 31, 2021, as compared to a loss of Rs 45.1 crore posted in the corresponding period of FY 2020-21.

The company's revenue from operations grew 7.83 per cent YoY to Rs 990.1 crore in the period under consideration against a profit of Rs 918.2 crore posted in the corresponding quarter last year.

Profit Before Exceptional Items and Tax stood at Rs 59.3 crore, compared to Rs 106.1 crore in the corresponding period of FY 2020-21. Profit Before Tax (After Exceptional Items) stood at Rs 117.8 crore as compared to Rs 106.1 crore in the corresponding period of FY 2020-21.

For the nine months ended December 31, 2021, BCSL reported revenue from Operations of Rs 3771.1 million, compared to Rs 3527.6 crore for the corresponding period in FY 2020-21. Profit Before Exceptional Items and Tax for the nine months ended December 31, 2021 stood at Rs 598.8 crore, compared to Rs 715.9 crore for the corresponding period in FY 2020-21. Profit Before Tax (After Exceptional Items) stood at Rs 657.3 crore as compared to Rs 714.7 crore in the corresponding period of FY 2020-21.

Commenting on the company's performance, Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Ltd. said, "Our Q3 revenue from operations has registered an 8% growth over the same period last year despite unseasonal rains, crop infestations and a challenging rabi corn season. Growth was largely driven by our Crop Protection portfolio that witnessed a surge in demand with double-digit liquidation growth sustained by our strategy of prudent channel management and demand generation. Overall profitability was impacted by higher input and operational costs which included building out new business models for increasing market reach to smallholders, corn seed returns and obsolescence effects, offset by the exceptional income arising from the sale of the business of mustard, cotton, millet and sorghum seeds."

He further stated, "Enhancing real-time agronomy advisory, farm collectivization efforts and driving market linkages through Farmer Producer Organizations (FPOs) and digitalization are important drivers to transform Indian agriculture. Bayer stands committed to maximize its efforts to benefit smallholder farmers, expand the base of its Better Life Farming centers, create gender smart interventions, double down on its sustainability efforts and make Indian agriculture competitive."

During April to December 2021, Bayer conducted drone trials for spraying purposes as an agriculture industry-first. Bayer's Better Life Farming (BLF) global value chain initiative also entered into multiple strategic alliances to support over 500,000 smallholder farmers across the country.