Bayer Crop Science shares jump 3% as Q4 profit doubles

NEW DELHI: Shares of Bayer Crop Science on Wednesday jumped 3 per cent after the company reported doubling of its profit to Rs 61.9 crore for the March 2021 quarter. The stock gained 2.83 per cent to Rs 5,413.65 on BSE.

On NSE, it rose by 3 per cent to Rs 5,417.55.

The company's profit had stood at Rs 31.5 crore during the corresponding quarter of 2019-20, Crop Science said in a BSE filing.

Its revenue from operations during January-March 2021 jumped 59.95 per cent to Rs 733.7 crore, compared with Rs 458.7 crore in the year-ago period.

For the full financial year 2020-21, Bayer Crop Science witnessed a 3.91 per cent growth in profit to Rs 493.1 crore as against Rs 474.5 crore in 2019-20.

The firm's revenue from operations witnessed an 18.06 per cent rise to Rs 4,261.3 crore in 2020-21, compared with Rs 3,609.4 crore a year ago.

In the fourth quarter ended March 2021, the company continued to deliver significant sales growth in crop protection, supported by strong farmer demand for agri-inputs and higher product liquidation, Bayer Crop Science Chief Operating Officer (India) Simon Wiebusch said.