Bayer CropScience's (BSCL) net profit surged 96.50% to Rs 61.90 crore on 59.95% jump in revenue from operations to Rs 733.70 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax soared 210.50% to Rs 79.80 crore in Q4 FY21 as against Rs 25.70 crore in Q4 FY20.During the financial year, Bayer CropScience's net profit rose 3.91% to Rs 49.31 crore on 18.06% rise in revenue from operations to Rs 4,261.30 crore in FY 2021 over FY 2020. The Q4 result was declared after market hours yesterday, 25 May 2021.
In FY 2020-21, Bayer CropScience (BCSL) introduced "Better Farms, Better Lives" to support smallholder farmers severely impacted by COVID-19 and create capacity building on the use of modern agricultural practices. Nearly 4,40,000 smallholder farmers across 17 states received free samples of BSCL's hybrid seeds, crop protection products, personal protective equipment, and access to training programs as part of the initiative. BCSL added over 400 new Better Life Farming Centers across nine states while it continues to support farmers through digital advisory for integrated crop management and collaborated with e-commerce players for home delivery of its products directly to rural farming communities.
Sharing an outlook for the future, D. Narain, the chief executive officer (CEO) and managing director (MD) of Bayer CropScience, has said that: "With the escalating COVID-19 situation in India, the external business environment remains uncertain in the short- term. However, agriculture will always remain an essential industry sector critical to India's food security. Apart from portfolio innovations, we will continue to introduce new business models and value-chain collaborations to increase our farmer reach, including leveraging the accelerated digitalization of Indian agriculture due to COVID-19."
The board of Bayer CropScience on 25 May 2021, had recommended a final dividend of Rs 25 per share.
Bayer CropScience is a global enterprise with core competencies in the life science fields of healthcare and nutrition.
Shares of Bayer CropScience rose 0.84% to Rs 5,308.80 on BSE. The stock hovered in the range of Rs 5,270.05 to Rs 5,413.65 so far.
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