Bayer Cropscience Ltd.'s share price slumped on Wednesday as the company reported disappointing figures for third quarter. Net profit declined 63.3% on the year to Rs 34.2 crore versus Rs 93.1 crore.
The company reported a decline in bottom line despite reporting a rise in revenue growth during October–December.
Bayer Cropscience Q3 Results Highlights (YoY)
Revenue up 10.7% to Rs 1,056.90 crore versus Rs 954.90 crore (Bloomberg Estimate: Rs 1,037 crore).
Ebitda down 85% to Rs 19.70 crore versus Rs 127.90 crore (Bloomberg Estimate: Rs 123.90 crore).
Margin at 1.9% versus 13.4% (Bloomberg Estimate: 12%)
Net profit down 63% to Rs 34.20 crore versus Rs 93.10 crore (Bloomberg Estimate: Rs 94.2 crore).
Bayer Cropscience Share Price Today
Bayer Cropscience share price declined for four days in a row. It declined 8.06% to Rs 4,402.00 apiece, since July 31, 2023. The stock pared losses to trade 6.68% down at Rs 4,468.20 apiece as of 10:10 a.m., as compared to a 0.94% decline in the NSE Nifty 50.
The stock declined 25.01% in 12 months. Total traded volume so far in the day stood at 21 times its 30-day average. The relative strength index was at 24.32, which implied the stock was oversold.
Out of nine analysts tracking the company, three maintain a 'buy' rating, five recommend a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 31.2%.
Corrects previous version by excluding the Agrochemical business' operating profit and updating Ebitda and margin figures for Q3 FY25.
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