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Sales of soybean seeds and traits jumped 37 percent as more
farmers in South America sowed the company's genetically
modified soybean seed Intacta RR2 Pro.
Monsanto agreed in September to a sweetened $128-per-share offer
from Bayer that, if approved by regulators, would create a
company commanding more than a quarter of the world market for
seeds and pesticides.
Monsanto, known for its genetically engineered corn and Roundup
herbicide, did not offer any update on regulatory approvals or
potential divestitures related to the Bayer deal.
Bayer and Monsanto have said they are confident that the deal
will pass regulatory scrutiny. Bayer has said it is committed to
divest up to $1.6 billion of its portfolio to win approval.
Net profit attributable to Monsanto was $29 million, or 7 cents
per share, in the first quarter ended Nov. 30, compared with a
loss of $253 million, or 56 cents per share, a year earlier.
Excluding items, the company earned 21 cents per share.
Net sales rose more than 19 percent to $2.65 billion.
(Reporting by Arathy S Nair in Bengaluru; Editing by Shounak
Dasgupta)
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