UPL shares zoom over 20% on smart earnings

Shares of agro chemicals firm UPL today zoomed over 20 per cent after the company posted 29 per cent increase in consolidated profit for the quarter ended on March 31.
At close, shares of UPL were up 20.18 per cent at Rs 276.90 on the BSE. During the day, the stock surged 21.37 per cent to 52-week high of Rs 279.65.
At the NSE, the scrip rallied 19.82 per cent to Rs 276.
In terms of volume, 55.76 lakh shares of the company were traded at the BSE and over 3 crore shares at the NSE during the day.
UPL posted 29 per cent 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 of 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.
UPL also announced 200 per cent dividend of Rs 4 per share on the share of face vale of Rs 2 per share.