 "December quarter results: Analysts expect tepid numbers")
Bayer CropScience, the Indian unit of German drug and pesticide maker Bayer AG, reported a 31% fall in quarterly profit on Thursday, hurt by sluggish demand for its crop-protection products.
The company's profit fell to 931 million rupees ($11.2 million) during the three months ended Dec. 31 from 1.35 billion rupees a year earlier.
Revenue from operations fell 8% to 9.55 billion rupees.
The results come at a time when agro-chemical companies are grappling with reduced demand for crop-protection products and declining prices of glyphosate, a critical herbicide, amid intense competition from Chinese generic varieties.
India also experienced the worst monsoon since 2018, resulting in tepid demand for agro-chemical products.
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