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UPL Q3 profit rises 78% to Rs 838 cr

Capital Market 

UPL reported 77.54% jump in consolidated net profit to Rs 838 crore in Q3 December 2019 (Q3 FY20) from Rs 472 crore in Q3 December 2018 (Q3 FY19).

Profit before tax in the December quarter stood at Rs 1,037 crore, up 107.40% from Rs 500 crore in Q3 December 2018.

Revenue from operations surged 80.69% to Rs 8,892 crore in Q3 December 2019 as compared to Rs 4,921 crore in Q3 December 2018.

Total expenses in the December quarter stood at Rs 7,800 crore, up 78.61% from Rs 4,367 crore reported in the December quarter last year.

In a separate filing, UPL said that the Indian Tax authorities visited and conducted search at multiple locations of the company's premises in India. During the course of this process they have collected documents and have interviewed key personnel of the company. Based on this the company believes that they were wanting to understand and review the company's international operations and transactions.

Shares of UPL rose 1.17% to end at Rs 542.95 on Friday, 7 February 2020.

UPL manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals, and also offers crop protection solutions.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 10 2020. 08:53 IST