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Kaveri Seeds has posted a loss of ₹17.77 crore in the fourth quarter ended March 31, 2021, as against a profit of ₹7.57 crore. It reported a net income of ₹64.25 crore in the quarter against ₹63.12 crore in the same quarter last year.
The firm posted a net profit of ₹311 crore in the financial year 2020-21 as against ₹259 crore in the previous year, showing a growth of about 20 per cent. For the full year, its net income stood at ₹1,036 crore (₹930 crore), showing a growth of 11.39 per cent.
“We are encouraged by our performance in what has been a very challenging year. We have leveraged our strengths in research and development to introduce new varieties across crops,” GV Bhaskar Rao, Chairman and Managing Director of Kaveri Seeds, said.
“We have become the first seed producer in the world with more than one lakh acres under seed production. With cost rationalisation and automation, our operating margins too have improved,” he said.
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