UPL Q3 net profit up 63.32% on strong sales

Buoyed by strong sales, agrochemicals major UPL Ltd today reported a 63.32 per cent increase in consolidated net profit at Rs 459.18 crore for the third quarter of 2016-17 fiscal.
The company's net profit stood at Rs 281.15 crore in the year-ago period.
Net sales increased to Rs 3,922.36 crore in the October-December quarter of this fiscal from Rs 3,318 crore in the same quarter last year, the company said in a BSE filing.
Expenses of the company, however, remained higher at Rs 3,398.6 crore in the third quarter of this year as against Rs 2,982.02 crore a year ago.

UPL, formerly known as United Phosphorus Ltd, has 10 manufacturing sites in India and one each in the UK, Vietnam, the Netherlands, Italy and China.
Besides, it has four manufacturing sites in France, two in Spain and three in Argentina.
The Mumbai-based company has two other listed firms -- Advanta and UEL.
Shares of the company rose by 1.41 per cent to settle at Rs 739.80 apiece on the BSE today.