Bayer’s (India) reported revenue of Rs 9,825 crore in Q4. Overall revenue increased by 9% in 2022-23

Bayer India has announced its results for the financial year (FY) and fourth quarter ended March 31, 2023. Revenue for the 2022-23 financial year was Rs 51,397 crore (about 4.38 billion yuan) compared to Rs 473,444 crore last year, representing an overall revenue growth of 9%. Profit before special items and pre-tax was Rs 8863 crore compared to Rs 7883 crore last year, up 12%. Pre-tax profit (excluding exceptional items) rose 17% to 9.901 billion rupees from 8.468 billion rupees.

In the fourth quarter of FY2022-23, the company recorded revenue of Rs 9,825 crore compared to Rs 9,633 crore a year ago, an increase of 2%. Profit before special items and taxes for the quarter stood at Rs 1,921 crore compared with Rs 1,895 crore a year ago.

Commenting on the quarterly results, Simon Thorsten Wiebusch, Executive Director of Bayer Cropscience, said, "Our sales growth in the fourth quarter was driven by strong plant protection sales and solid performance in our corn seed business, while overcoming some of the supply constraints we faced during the quarter. The Company's channel inventory has maintained good levels, but we are witnessing a normalization of Roundup ™ prices and volumes."″

″Simon Britsch, Chief Financial Officer of Bayer Cropscience, commented on the results for the fiscal year: "Solid performance in our crop protection and corn seed product portfolios helped us achieve a 9% increase in operating income for the fiscal year. While operating expenses increased due to headwinds from inflationary pressures, we continued to invest in key initiatives to drive long-term growth. The company disposed of its environmental sciences business in the third quarter of FY2022-23, generating exceptional income of Rs 1038 crore, "it said.