Kaveri Seed Company Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 02, 2024 at 01:30 pm IST
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Kaveri Seed Company Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 1,426.32 million compared to INR 1,440.04 million a year ago. Revenue was INR 1,556.79 million compared to INR 1,759.83 million a year ago. Net income was INR 117.79 million compared to INR 380.93 million a year ago. Basic earnings per share from continuing operations was INR 2.52 compared to INR 7.42 a year ago. Diluted earnings per share from continuing operations was INR 2.52 compared to INR 7.42 a year ago.
For the nine months, sales was INR 10,500.57 million compared to INR 9,966.75 million a year ago. Revenue was INR 10,882.64 million compared to INR 10,436.05 million a year ago. Net income was INR 2,990.14 million compared to INR 2,872.15 million a year ago. Basic earnings per share from continuing operations was INR 54.27 compared to INR 50.14 a year ago. Diluted earnings per share from continuing operations was INR 54.27 compared to INR 50.14 a year ago.
Kaveri Seed Company Limited is an India-based agricultural company. The Company specializes in hybrid seeds. The product portfolio of the Company consists of a range of high yielding seeds in field crops, such as maize, cotton, rice, pearl millet, mustard, wheat, sorghum, pulses, bajra, wheat, sunflower, and other vegetable crops, which includes tomatoes, okra, chilies, watermelon, gourds and brinjal. The Company sells its product under the brand name Kaveri. The Company owns seven modern seed processing and storage plants across various locations in India. The Company has approximately 100000 acres under seed production spread across different agro-climatic regions. The Company operates in the domestic market as well as in the exports market which includes Pakistan, Sri Lanka, Bangladesh and Vietnam. The Company's subsidiaries include Kaveri Microteck Private Ltd, Aditya Agri Tech Private Ltd, Genome Agritech Private Ltd and Genomix Agri Genetics Private Ltd.