Q1 Results: UPL Pares Losses After Profit Meets Estimates
UPL Ltd. posted quarterly profit that met estimates backed by overall operational efficiencies.
Net profit rose 8 percent year-on-year to Rs 510 crore during the three-month period ending June, the agro-chemicals maker said in a stock exchange filing today. This matched the Rs 506 crore estimated by analysts in a Bloomberg poll.
Revenue rose 11 percent year-on-year to Rs 4,134 crore. Analysts surveyed by Bloomberg had pegged the topline at Rs 4,079 crore. Operating income or the earnings before interest, tax, depreciation and amortisation rose 13 percent on a yearly basis to Rs 847 crore, while the operating margin expanded marginally to 20.5 percent from 20.1 percent.
Shares of UPL were trading up 0.5 percent at Rs 644.40 after the announcement of results.