UPL: Favourable conditions in key markets to boost growth in coming qtrs

However, strong India business and margin gains were better than expectations

Pegged back by muted sales in Latin America and North America, UPL posted a flat revenue performance in the June quarter (Q1). Sales in Latin America, its largest market, were down 16 per cent compared with the corresponding period in the previous year because of sharp currency fluctuation.

Orders in Q1 were postponed because of the devaluation of the Brazilian Real, while in the North American market there was pre-buying in March quarter (up 40 per cent year-on-year) due to the pandemic. 

The management indicated that it expects business to recover in Latin America given robust demand and new product launches. The