UPL's Q2 PAT rises whopping by 166% to Rs537cr as India biz continues to deliver strong growth

UPL said India continued to deliver strong growth in Q2 resulting in a 22% growth in H1, followed by Rest of the World at 14% and then the other regions.

Oct 30, 2020 05:10 IST India Infoline News Service

Mumbai-based UPL recorded a consolidated net profit of Rs537cr during the quarter ending September 2020 (Q2FY21) period, compared to Rs202cr a year ago same period, registering a whopping 165.84% growth.

Consolidated revenue from operations was at Rs8,939cr in the quarter under review, increasing by 14% from Rs7,817cr in the corresponding period of the previous year.

Jai Shroff, CEO of UPL said, "Our strong second quarter and first half results reflect the strength of our employees’ execution around the world and improvements to our supply chain. Combined with favourable agronomic conditions, UPL was able to deliver strong revenue and EBIDTA growth in the second quarter, as well as solid results for the first half of 2020. UPL has gained substantial market share in many markets and our volume growth has been very promising. As we continue to build out a pipeline of innovative products, we expect that our market share will continue to improve further still. One year after the acquisition of Arysta LifeScience, our momentum is a reflection of the successful integration of two complementary organisations now working as one team with one focus."

Shroff added, "I want to thank our employees for their commitment and discipline, which has enabled us to continue to serve farmers, strengthen food security throughout the world and make our business more sustainable."

UPL said India continued to deliver strong growth in Q2 resulting in a 22% growth in H1, followed by Rest of the World at 14% and then the other regions. Adding it said, "In India, we saw robust growth in key products including pre-emergent herbicides and sustainable solutions. Despite the COVID-19 lockdown, India continued to deliver record collections."

On Sensex, UPL stock ended at Rs453.15 per piece up 0.58%. 

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