Results: UPL Q4 profit up 74% at Rs 1,361 crore

Agro-chemical firm UPL on Wednesday reported 73.59 per cent growth in consolidated net profit at Rs 1,361 crore for March quarter 2020-21.

The company's net profit stood at Rs 784 crore in the year-ago period, UPL said in a BSE filing.

Revenue from operations was 15 per cent higher in the quarter at Rs 12,796 crore compared to Rs 11,141 crore in the same period of 2019-20.

In 2020-21, the company's consolidated net profit witnessed 60.46 per cent growth at Rs 3,495 crore compared to Rs 2,178 crore in the previous year.

Similarly, revenue from operations grew 8 per cent during 2020-21 to Rs 38,694 crore as against Rs 35,756 crore in the previous fiscal year.

The company said it has reduced its net debt by Rs 3,140 crore to Rs 18,922 crore as on March 31.

"2020 was certainly a challenging year for each one of us, and the world as a whole. Despite being an incredibly tough year, we delivered growth through continuously innovating and transforming, and adapting to the constantly changing situation as best it can. Our financial performance in FY21 has demonstrated the resilience of our model in COVID times," UPL CEO Jai Shroff said in a statement.

UPL aims to lead the agri-solutions space through differentiated products, bio-solutions, digitisation and collaborations across the food value chain, he added.

Shares of the company closed at Rs 691.60 apiece, up 1.10 per cent on BSE.

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