Business: UPL's net profit rises 29% to Rs 1,379 crore in the fourth quarter; revenue increases 24%

For the full fiscal 2021-22, UPL’s net profit grew by 26 per cent to Rs 3,626 crore, as against Rs 2,872 crore in the preceding fiscal.

Agro-chemicals major UPL on Monday reported a 29 percent development in net profit at Rs 1,379 crore for the quarter ended March. The organization’s net profit remained at Rs 1,065 crore in the comparing quarter of the past financial year, UPL said in an articulation. Income became by 24% to Rs 15,860 crore, compared with Rs 12,797 crore in the year-prior period. The organization’s revenue in FY22 climbed 19% to Rs 46,240 crore from Rs 38,694 crore prior.

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“We are delighted to share a strong set of results for Q4 2022, and another record year for UPL. Thanks to the dedication, agility and tenacity of our team, we have been able to significantly outperform the guidance given at the start of the year, with nearly every region seeing double-digit growth.

“FY22 was a year of challenging macro-environment, input cost inflationary pressures and supply chain disruptions and we chose to prudently invest towards ensuring reliable growth going forward,” company CEO Jai Shroff said.

Guided by its OpenAg purpose to create sustainable growth for all, UPl achieved important milestones in its mission to build a network that ‘reimagines sustainability’ for the entire agricultural industry, he added.

“In a significant achievement for this mission, our digital platform nuture.farm became the first company to successfully forward sell agricultural-related carbon credits in India,” he said.

Shares of the company on Monday were trading at Rs 778.05 in the afternoon session, down 1.11 per cent on BSE.

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