UPL Q1FY22 net profit rises 23% yoy to Rs678cr on higher volumes

Strong Revenue, Margins, and EBITDA demonstrates business resilience, the company said.

Jul 30, 2021 04:07 IST India Infoline News Service

UPL Limited
UPL Limited, a world leader in sustainable agriculture products and solutions, today reported robust financial results for the first quarter ended June 30, 2021. Revenue from operations in Q1FY22 increased 9% yoy to Rs8,515cr compared to Rs7,833cr in Q1FY21. Volume growth 6%, price increase of 2%, and currency impact of 1%.

The company’s Net Profit jumped 23% yoy to Rs678cr in Q1FY22 compared to Rs550cr in Q1FY21. EBITDA rose 9% to Rs1,862cr in Q1FY22 compared to Rs1,704cr in Q1FY21. It was supported by a favorable product mix and realizations partly offset by cost pressures.

“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. In alignment to our OpenAg purpose, we are confident that these businesses will enable us to shape and scale sustainable agriculture. We remain committed to innovation and transformation in the food system, thereby delivering value to our stakeholders,” Jai Shroff, CEO – UPL Ltd., said.

UPL Ltd ended at Rs808.40 per piece down by Rs11.2 or 1.37% from its previous closing of Rs819.60 per piece on the BSE.

Business Performance
  • Higher volumes and strong realisations in India drove growth despite delayed monsoons and second wave of Covid, market grew by 6-7% during the quarter
  • Strong growth across LATAM with Brazil leading at 40% increase vs Q1 last year
  • Higher volumes, strong realisations and increase in acreages in major row crops in North America
  • Supply constraints and unfavorable weather conditions in Europe
  • Unfavorable weather, reduced volumes and supply constraints offsets the growth from some ROW regions.

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