UPL - Operationally In-Line; Elevated Finance Cost Makes A Dent On Q3 Profit: Prabhudas Lilladher 
A bulldozer collects potash fertiliser. (Photographer: Ariel Jerozolimski/Bloomberg)

UPL - Operationally In-Line; Elevated Finance Cost Makes A Dent On Q3 Profit: Prabhudas Lilladher 

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Prabhudas Lilladher Report

UPL Ltd. reported operationally in-line set of results, but higher finance cost led to disappointing adjusted profit after tax at Rs 7.2 billion, down 8% YoY (our estimate Rs 9.5 billion).

Finance cost at Rs 7.5 billion (our estimate Rs 4.3 billion) was higher due to one-time interest outgo of Rs 750 million on early redemption of bonds and Rs 2 billion of forex loss.

The company saw strong volume in all geographies except Latin America. Price hikes were taken across geographies on account of rising raw material cost globally.

Click on the attachment to read the full report:

Prabhudas Lilladher UPL Q3FY21 Result Update.pdf

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