Kaveri Seeds Q3 net up by 22%

Kaveri Seeds has described a net gain of ₹9 crore in the quarter ended December 31, 2021, in opposition to ₹7.45 crore in the identical interval past fiscal, a development of about 22 for every cent.

The Hyderabad-centered seed significant registered a revenue of ₹102 crore from ₹100 crore in the prior fiscal, a marginal growth of 2 for each cent.

For the 9-thirty day period period of time finished December 31, 2021, Kaveri Seeds noted a net income of ₹222 crore (in opposition to ₹319 crore in the identical interval of the former fiscal) on a revenue of ₹860 crore (₹932 crore in the preceding fiscal).

“In line with company’s target, the contribution from non-cotton segment in the first nine months of the economical yr has enhanced to 62 for every cent from 53 for every cent in the equivalent quarter of the preceding financial calendar year,” GV Bhaskar Rao, Chairman and Controlling Director, Kaveri Seeds, explained.

“The business has witnessed sizeable advancement in both of those revenue and volumes from hybrid and range rice and vegetable segments,” he claimed.

He stated the corporation has completed a buyback of shares truly worth ₹120 crore throughout the quarter.

“Contribution from our new items across seed segments are secure through the calendar year. This ought to transfer upwards all through the future 12 months and is the most significant driver for Kaveri Seeds,” he claimed.

Revealed on

February 11, 2022