Bayer CropScience Q3 Results: Profit Falls 63%, Misses Estimates
Revenue from operations jumped 10.7% to Rs 1,056.90 crore over Rs 954.90 crore in the third quarter of last year.
Bayer CropScience Ltd., the Indian unit of German crop science group Bayer AG, posted a 63.26% decline in its net profit to Rs 34.2 crore in the December 2024 quarter, according to an exchange filing on Wednesday.
The company reported a net profit of Rs 93.1 crore in the year-ago period, according to a regulatory filing. Analysts' estimates compiled by Bloomberg projected a bottomline of Rs 94.2 crore.
Revenue from operations jumped 10.7% to Rs 1,056.90 crore over Rs 954.90 crore in the third quarter of last year. The income was above the Rs 1,037-crore consensus estimate of analysts tracked by Bloomberg.
On the operating side, earnings before interest, tax, depreciation and amortisation fell 85% to Rs 19.70 crore, much lower than the projected Rs 123.90 crore. Margin contracted from 13.4% to 1.9%. The Bloomberg estimate was 12%.
Bayer CropScience Q3 FY25 Highlights (Consolidated, 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).
Simon Britsch, Whole-time Director (Executive) and Chief Financial Officer, said, "Continuing cost efficiency measures were offset by targeted investments in promotional activities as well as provisions for doubtful receivables, attributable to a challenging agricultural economy. We are actively engaged in recovery efforts," in a press release.
Bayer CropScience Share Price Data
Shares of Bayer CropScience closed 8.32% lower on Wednesday at Rs 4,389.50 apiece on the NSE, compared to a 0.12% decline in the benchmark Nifty 50. The company shares have fallen 26.33% in the last 12 months.
Three analysts tracking the company have a 'buy' rating on the stock, five have a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 31.6%.
