Bayer CropScience posts strong Q2 results

Bayer CropScience Ltd

On BSE 2,694.00301.40 (12.60%)
On NSE 2,681.95291.50 (12.19%)

Bayer CropScience has surged 10% to Rs 2,635 on NSE in early morning deals after reporting a strong  50% year-on-year (yoy) jump in net profit at Rs 176 crore for the quarter ended September 30, 2014 (Q2), on back of strong operational  performance. The agrochemicals company had profit of Rs 117 crore in the same quarter year ago.

Total income from operations for the quarter grew 18% to Rs 1,241 crore against Rs 1,050 crore in the corresponding quarter of previous fiscal.

Operating profit jumped 32% yoy to Rs 24.40 crore, while margins expanded by 200 bps to 19.66% from 17.60% over the previous year quarter.

The stock opened at Rs 2,636 and touched a high of Rs 2,700 on NSE.  A combined 55,436 shares changed hands on the counter in first 10 minutes of trade on NSE and BSE.


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