UPL's consolidated net profit soared 147% to Rs 617 crore on 30.7% rise in net sales to Rs 11,141 crore in Q4 March 2020 over Q4 March 2019.
Consolidated EBITDA for Q4 March 2020 stood at Rs 2169 crore, rising 25% from Rs 1740 crore in Q4 March 2019. Profit before tax (PBT) surged 231.74% year-on-year to Rs 972 crore during the quarter. Tax expense rose 35.98% to Rs 257 crore during the period under review. The result was announced after market hours on Friday, 22 May 2020.
The company reported a exceptional item of Rs 171 crore, which includes cost related to litigation, severance and integration cost due to acquisition of Arysta group.
A competitor had filed a litigation against a subsidiary of the group and the company for infringement of patent, loss of profits and unjust enrichment. On 11 October 2019, a jury in the of federal district court rendered a verdict against the subsidiary for an aggregate amount of approximately $31 million (approx. Rs 220 crore).
On a consolidated basis, UPL's net profit rose 19.1% to Rs 1776 crore in the year ended March 2020 (FY20) from Rs 1491 crore reported in the year ended March 2019 (FY19). Net sales soared 63.7% to Rs 35,756 crore in FY20 over in FY19. PBT rose 56.96% to Rs 2,761 crore in FY20 over FY19.
The company has declared a dividend of Rs 6 per equity share.
UPL manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals, and also offers crop protection solutions.
Shares of UPL ended 1.24% higher at Rs 371.1 on Friday.
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