Kaveri Seeds has posted a net profit of ₹241 crore in the first quarter ended June 30, 2022, as against ₹202 crore in the corresponding quarter last year, showing a growth of 19 per cent.
The company registered a revenue of ₹732 crore in Q1, up by 7.26 per cent, as compared to ₹682 crore during the same quarter.
“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,” G V Bhaskar Rao, Chairman and Managing Director, said.
“Despite a 15 per cent decrease in rice acreage due to rain shortages in some parts of the country, we have surpassed the market in terms of volume growth,” he said.
He added that the company was witnessing “encouraging growth” in vegetable seed acreage, volumes and revenue growth.