 "Bayer Cropscience posts Rs 85 crore net profit in third quarter")
Bayer Cropscience Ltd on Friday posted a net profit of Rs 84.8 crore for the third quarter of 2021-22 on better revenue and sale of its seed business.
The company had posted a net loss of Rs 45.1 crore in the same quarter previous fiscal.
Net revenues rose to Rs 999.9 crore during the third quarter of the 2021-22 fiscal, compared to Rs 936.5 crore in the year-ago period.
The company said it has earned a profit of Rs 58.5 crore from the sale of its seed business to Crystal Crop Protection on December 1, 2021.
Expenses remained higher at Rs 940.06 crore as against Rs 830.04 crore.
The company said it has incurred expense in relation to separation of employees arising from restructuring measures due to amalgamation of Monsanto India Ltd with Bayer CropScience.
The company has only one reportable business segment -- agri care.
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