Bayer CropScience hits 52-week low post Q1 nos

Revenue of the company was down at Rs 663.6 crore versus Rs 831.8 crore.+

The share price of Bayer CropScience touched 52-week low, falling 3.6 percent intraday Wednesday after the company posted poor numbers for the quarter ended June 2019.



The company's Q1 net profit fell to Rs 59.3 crore versus Rs 147.2 crore in the same quarter last fiscal.

Revenue of the company was down at Rs 663.6 crore versus Rs 831.8 crore.

D. Narain, Vice Chairman & Managing Director and CEO of Bayer CropScience said, “Late-onset of monsoon and delayed Kharif sowing season resulted in deferment of product placement in the market, which impacted our Q1 results."

"While the rain deficit has reduced in July and would support improved sales growth in Q2, significant rain delays continue in some areas of Western and Southern India, which could impact our results,” he added.

The share price declined 28 percent in the last year.

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