Thursday, Mar 28 2024 | Time 15:19 Hrs(IST)
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Business Economy


Kaveri Seeds standalone net profit rises 19.29 pc to Rs 240.67 cr in Q1FY23

Hyderabad, Aug 8 (UNI) Kaveri Seed Company on Monday reported its standalone net profit of Rs 240.67 crore in the first quarter ended June 30,2022, as compaed to Rs 201.75 crore in the same period in the last last fiscal, registering a growth of 19.29 percent.
The company’s revenue from operations was at Rs 731.95 crore as compared to Rs 682.41 crore in the corresponding period in previous financial year, registering a growth of 7.26 per cent, the Hyderabad-based company said in a release here.
Commenting on the results, Mr. G V Bhaskar Rao, Chairman & Managing Director said, “We have witnessed good growth in cotton acreage, volumes and revenues on account of continued high cotton price support, market share gains and renewed marketing efforts”.
Despite a 15 percent decrease in rice acreage due to rain shortages in some regions of the nation, we have surpassed the market in terms of volume growth, he said.
We are seeing encouraging growth in vegetable seed acreage, volumes and revenue growth.
In all the segments, including cotton, rice, and vegetables, we have introduced new variants, and we have noticed a growing contribution across these segments, Rao added.
UNI KNR CS1715
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