UPL posted a 23% rise in consolidated net profit to Rs 678 crore on a 9% rise in revenue to Rs 8,515 crore in Q1 FY22 over Q1 FY21.
Consolidated profit before tax declined 25% to Rs 597 crore in Q1 FY22 from Rs 796 crore reported in Q1 FY21. The company reported a deferred tax credit of Rs 337 crore in Q1 FY22 which aided net profit.
EBITDA grew by 9% to Rs 1,862 crore in Q1 FY22 from Rs 1,704 crore in Q1 FY21, supported by favorable product mix and realisations partly offset by cost pressures. EBITDA margin slightly improved to 21.9% in Q1 FY22 from 21.7% in Q1 FY21.
Commenting on the performance of the first quarter results, Jai Shroff, CEO of UPL said, We have delivered strong and robust performance owing to our differentiated offerings, digitization, and collaborations across the food value chain. We continue to drive sustainable agriculture, launching our new global business unit - 'NPP' - Natural Plant Protection, dedicated to natural and biologically derived agricultural inputs and technologies. We also launched nurture.farm, a digital platform that advances resilience for farmers and the food system.
UPL is a global provider of sustainable agriculture products & solutions. Through OpenAg, UPL is focused on facilitating progress for the entire agricultural value chain.
Shares of UPL gained 1.37% to close at Rs 808.4 on Friday.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and 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
RECOMMENDED FOR YOU