UPL net profit rises 29% to Rs 1,379 crore in Q4; revenue up 24%
Agro-chemicals major UPL on Monday reported a 29 per cent growth in net profit at Rs 1,379 crore for the quarter ended March.
The company’s net profit stood at Rs 1,065 crore in the corresponding quarter of the previous financial year, UPL said in a statement.
Revenue grew by 24 per cent to Rs 15,860 crore, compared to Rs 12,797 crore in the year-ago period.
For the full fiscal 2021-22, UPL’s net profit grew by 26 per cent to Rs 3,626 crore, as against Rs 2,872 crore in the preceding fiscal.
The company’s revenue in FY22 climbed 19 per cent to Rs 46,240 crore from Rs 38,694 crore earlier.
“We are delighted to share a strong set of results for Q4 2022, and another record year for UPL. Thanks to the dedication, agility and tenacity of our team, we have been able to significantly outperform the guidance given at the start of the year, with nearly every region seeing double-digit growth.
“FY22 was a year of challenging macro-environment, input cost inflationary pressures and supply chain disruptions and we chose to prudently invest towards ensuring reliable growth going forward,” company CEO Jai Shroff said.
Guided by its OpenAg purpose to create sustainable growth for all, UPl achieved important milestones 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 nuture.farm became the first company to successfully forward sell agricultural-related carbon credits in India,” he said.
Shares of the company on Monday were trading at Rs 778.05 in the afternoon session, down 1.11 per cent on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
