UPL Posts Slowest Profit Growth In Five Quarters
UPL’s profit for the December-ended quarter exceeded Bloomberg estimates, while revenue missed the mark.
Agrochemicals maker UPL Ltd. posted the slowest profit growth in five quarters but still managed to beat estimates.
Net profit rose 25 percent year-on-year to Rs 574 crore for the three months ending December, the Mumbai-based company said in a stock exchange filing. This was ahead of the Rs 485 crore estimated by analysts tracked by Bloomberg. Revenue rose 7 percent to Rs 4,194 crore in the same period. The top line missed the Bloomberg consensus estimate of Rs 4,365 crore.
Earnings before interest, tax, depreciation and amortisation fell 1.4 percent to Rs 716 crore on a year-on-year basis. The ebitda margin contracted 152 basis points to 17.07 percent.
Shares of UPL fell as much as 4.3 percent to Rs 788.8 on the NSE after the earnings announcement.