Driven by large value maize seed sales, Kaveri Seeds has described a development of 44 per cent in net sales in the 3rd quarter finished December 31, 2019. The net sales of the company went up to ₹122 crore from ₹85 crore in the same quarter former 12 months.
The net revenue greater to ₹8.53 crore (₹2.nine crore).
“We have introduced large value maize seeds in the previous 3 four several years, resulting in a portfolio change in this phase. This has helped us improve sales,” C Mithun Chand, Whole-time Director and Executive Director, explained to BusinessLine.
Revenues ended up up by 12 per cent. “The acreage, much too, has long gone up this 12 months. We anticipate a spill-around of this craze (sales) into the up coming quarter as effectively as the year received extended in some maize increasing parts,” he mentioned.
The firm’s cotton portfolio observed an raise of eighteen per cent in sales for the nine-month period (April-December) this economical 12 months. “The contribution from new products went up to 22 per cent of the complete volume from 14 per cent,” he mentioned.
The non-cotton small business has viewed a development of sixteen per cent in the 3rd quarter. “This development is driven by volume development in new hybrids and also selling price appreciation in vital products,” he mentioned.