India's Bayer CropScience posts nearly 9% rise in Q2 profit

Nov 3 (Reuters) - India's Bayer CropScience BAYE.NS posted a nearly 9% rise in second-quarter profit on Tuesday, helped by lower expenses and favourable production yields for corn seeds, even as revenue fell because of a weak monsoon season.

The agrichemical company posted a profit of 1.66 billion rupees ($17.51 million) for the quarter ended September 30, up from 1.53 billion rupees a year earlier.

Revenue, however, fell 19.5% to 12.51 billion rupees.

Here are some details:

• India recorded its lowest monsoon rainfall in more than a decade during the June-September season as the El Niño weather pattern dampened precipitation, fuelling concerns over crop yields

• The company said Q2 reflected a challenging operating environment, with an uneven monsoon affecting sowing patterns and crop protection demand

• Analysts at Kotak had expected results to remain under pressure due to deficient rainfall, which impacted farmer offtake of agrochemicals as well as seeds

• However, Bayer's total expenses fell 23% during the quarter, helped by an inventory-related gain of 428 million rupees

• Its profit after tax was helped by improved gross margins reflecting favourable production yields for corn seeds and cost efficiencies

• The firm declared an interim dividend of 90 rupees per share

• Parent Bayer on Tuesday raised its 2026 profit outlook, but its global crop science division missed quarterly estimates

  
  

($1 = 94.8225 Indian rupees)