Net profit up 29% to Rs 1,379 cr, revenue growth at 24%

On Monday, major agrochemical company UPL reported a 29% growth in net profit to Rs 1,379 crore for the quarter ended March.

The company’s net profit stood at Rs 1,065 crore in the corresponding quarter last fiscal year, UPL said in a statement.

Revenue rose 24% to Rs 15,860 crore from Rs 12,797 crore a year ago.

For the full fiscal year 2021-22, UPL’s net profit increased by 26% to Rs 3,626 crore from Rs 2,872 crore in the prior fiscal year.

The company’s revenue in FY22 increased by 19% to Rs 46,240 crore from Rs 38,694 crore earlier.

“We are delighted to share a strong set of results for the fourth quarter of 2022 and another record year for UPL. Thanks to the dedication, agility and tenacity of our team, we were able to significantly exceed the forecast given. at the start of the year, with almost all regions recording double-digit growth.

“Fiscal 22 was a year of challenging macro environment, inflationary pressures on input costs and supply chain disruptions and we chose to invest cautiously to ensure reliable growth going forward” , said the company’s CEO, Jai Shroff.

Guided by its OpenAg goal of creating sustainable growth for all, UPL has taken important steps in its mission to build a network that “reimagines sustainability” for the entire agricultural industry, he added. .

“In a significant achievement for this mission, our digital platform has become the first company to successfully sell agriculture-related carbon credits in India,” he said.

Shares of the company were trading at Rs 778.05 in the afternoon session on Monday, down 1.11% on BSE.

Posted: Monday 09 May 2022, 16:57 IST