Monsanto tumbles after Q2 loss

Monsanto India is currently amongst the top five losers on the BSE, down 4% at Rs.2932 and this is after hitting an intra day low at Rs.2850.

The stock has fallen after the company reported a net loss of Rs.5 crore for Q2Fy15 v/s net profit of Rs.76 crore in previous Q2 and net profit of Rs.7.6 crore sequentially. Seasonally, this should have been a bumper quarter but right from the topline, there has been a decline. There was a 67% (YoY) drop in net sales at Rs.84 crore and then operating expenses of Rs.95 crore pushed it into the red. The hefty other income of Rs.11 crore helped limit the net loss to that extent.