UPL Q4 net up 29% at Rs 360.28 cr

Company had reported net profit of Rs 278.40 crore in the same quarter during last fiscal

Agro chemicals firm UPL has posted 29% increase in consolidated profit at Rs 360.28 crore for the quarter ended on March 31 on account of higher sales.

It had reported net profit of Rs 278.40 crore in the same quarter during last fiscal, 2012-13.

Total income during the January-March quarter of 2013-14 increased to Rs 3,338.31 crore, from Rs 2,820.33 crore in the year-ago period, the company said in a BSE filing.

Formerly known as United Phosphorous, UPL's yearly earnings for the 2013-14 fiscal also reported increase in both bottom line as well as top line.

The consolidated net profit for 2013-14 rose to Rs 949.79 crore, as compared to Rs 774.60 crore in the year 2013-13.

Total income of the company during 2013-14 increased to Rs 10,770 crore, from Rs 9,185.70 crore in 2012-13.

During last quarter UPL completed buy-back of 1.40 crore shares for about Rs 283 crore from the open market.

"The company has completed its offer for buyback of equity share from the open market through stock exchange by acquiring 1.40 crore shares. All these shares are extinguished. Post buyback its share capital stands reduced to Rs 85.72 crore consisting of 42.86 crore shares," as per the filing.

UPL has announced 200% dividend of Rs 4 per share on the share of face vale of Rs 2 per share.

There was spurt in the trading volumes of shares by 15.16 times and traded on new 52 week high value of Rs 279.65 apiece on BSE today. Shares were at Rs 276.90 apiece in the late afternoon trade on the exchange.

UPL is a global generic crop protection, chemicals and seeds company, headquartered in Mumbai. It makes and markets agrochemicals products, seeds and non-industrial chemicals.