UPL Q2 Results: Profit Rises Nearly Threefold On Low Base, Growth Guidance Maintained
Net profit of the agrichemicals maker rose to Rs 463 crore in the three months ended September from Rs 166 crore a year ago.
UPL Ltd.’s quarterly profit rose nearly threefold on account of a low base.
Net profit rose to Rs 463 crore in the three months ended September from Rs 166 crore a year ago, the agri-products maker said in an exchange filing on Friday. That compares with Rs 537-crore consensus forecast of analysts tracked by Bloomberg.
UPL’s revenue rose 14% over the year ago to Rs 8,939 crore, against the estimated Rs 8,515 crore, aided by a strong performance in its key markets such as Latin America, India and rest of the world.
UPL’s revenue performance across geographies (year-on-year)
- Latin America: up 12%
- India: up 18%
- North America: up 9%
- Rest of World: up 27%
- Europe: up 6%
The company’s operating profit grew 18% over the year earlier to Rs 1,808 crore, while Ebitda margin widened to 20.2% from 19.7%.
UPL, according to its media statement, maintained its revenue growth guidance of 6-8%, and 10-12% for Ebitda for the financial year 2020-21.
Shares of UPL closed 0.6% higher at Rs 453 apiece on the NSE before the quarterly results, compared with a flat Nifty 50.