Bayer CropScience posts net loss of Rs 12.9cr in Q4

Bayer CropScience today reported a net loss of Rs 12.9 crore for the fourth quarter of the 2017-18 fiscal.

Its net loss stood at Rs 36.1 crore in the same quarter of the previous fiscal, according to a regulatory filing.

The revenue from the operation rose to Rs 300.2 crore during the January-March quarter of the 2017-18 fiscal from Rs 238 crore in the year-ago period.

Expenses too increased to Rs 327.5 crore from Rs 305.7 crore in the said period.

Commenting on the performance, Bayer CropScience vice chairman and managing director Richard van der Merwe said, ?We are satisfied with the business performance for 2017-18 fiscal, given the challenging business environment and the change-over to the new GST system."

On the future outlook, he said, "We remain confident that 2018-19 fiscal will be a year of positive growth for the company, given the favourable monsoon predictions.

"In the months ahead, we plan to launch 8 to 10 new products across our crop protection, seeds and environmental science portfolio, subject to receiving regulatory approvals. Farmers will be able to benefit from these new products in both Kharif 2018 and 2019."

The board has recommended a dividend of Rs 18 per share.

Bayer is a global enterprise with core competencies in the life science fields of health care and agriculture. Its scrip rose 0.58 per cent to settle at Rs 4498.30 apiece on BSE today.