Kaveri Seed Company posted a net profit of ₹275.62 crore in the quarter ended June 30, 2023 against ₹244.60 crore in the comparable quarter last year, showing a growth of 12.68 per cent.

The company registered revenue growth of ₹736.10 crore (₹685.59 crore).

“The profit for the quarter has surpassed the profits registered during the full financial year 2022-23. This has resulted in a growth of 15.69 per cent in earnings per share to ₹49.10 a share,” GV Bhaskar Rao, Chairman and Managing Director, said.

“The delay in monsoon has impacted volumes and sales of maize during the quarter. We are expecting that there would be an increase in the sowing of maize during the rabi season.  Sunflower and mustard exports will start from the second quarter and expecting maize and vegetable seeds exports to grow,” he said.