UPL's Q2 profit rises by 59 percent

Agrochemicals company UPL Limited posted a net profit of Rs.320.91 crore for the quarter ended September 30 for fiscal 2015-16, a rise of 59 percent from Q2 in fiscal 2014-15, the company announced on Monday.

According to a statement on the standalone unaudited financial results posted on the Bombay Stock Exchange (BSE), UPL's Q2 net profit rose by Rs.119.46 crore compared to the net profit of Rs.201.45 crore posted in the year ago quarter.

The company's total income from operations rose to Rs.1,562.15 crore in the quarter under review from Rs.1,382.46 crore in the last quarter.

Total expenses increased from Rs.1,337.76 crore in Q2 2014-15 to Rs.1,392.28 crore in Q2 2015-16.

On a consolidated basis, UPL posted a net profit of Rs.185.21 crore after taxes, minority interest and share of profit of associates in the quarter ended September 30, this fiscal over Rs.166.06 crore posted in the like quarter of 2014-15.

Net profit rose by Rs.19.5 crore at the rate of 11.5 percent on a consolidated basis in Q2 of current fiscal.

UPL's total income from operations rose by Rs.139.14 crore to Rs.2,801.46 crore in the analysed quarter compared to Rs.2,662.32 crore in the like quarter of fiscal 2014-15.

The company's total expenditure rose to Rs.2,389.61 crore in Q2 2015-16 from Rs.2,290.95 crore in the last quarter on a consolidated basis.

Started 40 years ago as United Phosphorous, UPL operates in 123 countries and offers crop protection products, intermediates, specialty chemicals and industrial chemicals.