Monsanto India Q3 profit up 47 pc at Rs 60 cr

Biotech major Monsanto India Ltd today reported a 47 per cent increase in net profit at Rs 59.93 crore for the quarter ended December.
Its net profit stood at Rs 40.76 crore in the year-ago period, the company said in a regulatory filing.
Total income from operations rose to Rs 163.91 crore during the third quarter of this fiscal from Rs 153.66 crore in the corresponding period of the previous year.
Last year, German pharma and chemical major Bayer AG announced acquisition of Monsanto for USD 66 billion to create the world's biggest seed and pesticide firm.
After completion of the proposed deal, Bayer group will be indirectly acquiring the 72.14 per cent voting share capital of the Monsanto India, triggering into launch of an open offer for the shareholders of the Monsanto India.

Both Bayer and Monsanto have presence in India with the US firm selling genetically modified (GM) cotton seeds in the country for more than a decade.