Agri Business

Kaveri Seeds Q3 profit grows 22%

Our Bureau Hyderabad | Updated on February 09, 2021 Published on February 09, 2021

Kaveri Seeds has posted a net profit of ₹7.45 crore for the third quarter ended December 31, 2020, against ₹6.14 crore in the same quarter last year, showing a growth of 21.8 per cent.

The firm registered net sales of ₹100 crore (₹98.50 crore), up 1.66 per cent.

For the nine-month period ended December 31, its net profit rose 32 per cent to ₹319.63 crore (₹242 crore). Net sales were ₹932 crore (₹831 crore) during the period.

“Our Selection Rice and Hybrid Rice portfolios have grown strongly by over 45 per cent year-on-year. Vegetable sales too have grown very well on the back of strong growth in hot pepper, tomato, gourds and okra,” said GV Bhaskar Rao, Chairman and Managing Director of Kaveri Seeds.

“We are optimistic of maintaining this trajectory on the back of our strong connect with the farmer, diversified product portfolio and established research and development capabilities,” he said.

He further said the company gained cotton seed market share in Gujarat and Haryana. “The volumes are almost stable during the nine months,” he said.

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Published on February 09, 2021
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