June 17, 2024


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Kaveri Seeds Q3 net up by 22%

Kaveri Seeds has reported a web profit of ₹9 crore in the quarter ended December 31, 2021, versus ₹7.45 crore in the similar period of time very last fiscal, a growth of about 22 per cent.

The Hyderabad-based seed key registered a profits of ₹102 crore versus ₹100 crore in the former fiscal, a marginal progress of 2 for each cent.

For the nine-month period ended December 31, 2021, Kaveri Seeds reported a internet earnings of ₹222 crore (from ₹319 crore in the exact same interval of the prior fiscal) on a profits of ₹860 crore (₹932 crore in the previous fiscal).

“In line with company’s target, the contribution from non-cotton segment in the initial nine months of the economical year has elevated to 62 for every cent from 53 per cent in the similar quarter of the earlier financial yr,” GV Bhaskar Rao, Chairman and Managing Director, Kaveri Seeds, mentioned.

“The organization has witnessed important growth in each income and volumes from hybrid and assortment rice and vegetable segments,” he stated.

He reported the corporation has completed a buyback of shares truly worth ₹120 crore in the course of the quarter.

“Contribution from our new merchandise throughout seed segments are steady during the calendar year. This ought to transfer upwards throughout the subsequent yr and is the biggest driver for Kaveri Seeds,” he explained.

Released on

February 11, 2022