Kaveri Seed PAT up 3x
Kaveri Seed Company Ltd has reported nearly three-times increase in its net profit at Rs 1072 crore in June-September quarter (Q2) of financial year 2023-24 against Rs 2.72 crore during the same quarter previous fiscal.
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Hyderabad Kaveri Seed Company Ltd has reported nearly three-times increase in its net profit at Rs 1072 crore in June-September quarter (Q2) of financial year 2023-24 against Rs 2.72 crore during the same quarter previous fiscal. Its revenue from operations grew 13.77 per cent at Rs 96.12 crore in Q2 FY24 over Rs 84.49 crore in a year-ago period.
GV Bhaskar Rao, CMD of company said, “We are elated to announce our outstanding growth rates across key seed segments. Despite stable volumes in Rice and Cotton, our strategic approach has transformed better realisations into substantial revenue growth, fuelling a significant improvement in margins.
The surge in global rice prices has propelled a remarkable 10.80 per cent increase in the rice cultivation area, marking a pivotal moment for the company. It is not only witnessing unprecedented success in vegetable business but also aggressively expanding its footprint in international markets.
