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.
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