 "Bayer Cropscience hits record high on strong Q1 results")
Bayer Cropscience has soared 13% to Rs 2,064, also its record high on NSE, after reporting a strong 24% year-on-year (yoy) jump in net profit at Rs 109 crore for the quarter ended June 30 2014 (Q1), on back of higher sales. The agrochemicals company had profit of Rs 88 crore in the same quarter last year and Rs 46 crore in March quarter.
Net sales increased by 21% to Rs 1,172 crore during the quarter under review against Rs 988 crore in the corresponding quarter of previous year. The company’s operating profit grew 26% at Rs 1,482 crore on yoy basis.
The stock opened at Rs 1,919 and touched a low of Rs 1,878 so far. A combined around 44,000 shares changed hands on NSE and BSE.
Net sales increased by 21% to Rs 1,172 crore during the quarter under review against Rs 988 crore in the corresponding quarter of previous year. The company’s operating profit grew 26% at Rs 1,482 crore on yoy basis.
The stock opened at Rs 1,919 and touched a low of Rs 1,878 so far. A combined around 44,000 shares changed hands on NSE and BSE.