Agro-chemical firm UPL Ltd today reported 28 per cent increase in net profit at Rs 222.24 crore for the quarter ended December 2013, on account of higher sales.
It had clocked a net profit of Rs 173.49 crore during the same period of 2012-13 fiscal, the company said in a filing with the BSE.
Total income of the company during October-December period of the current fiscal increased to Rs 2,646.87 crore from Rs 2,294.24 crore in the same period of 2012-13 fiscal.
In December last year, the company's board had approved buyback of up to 1.40 crore shares from the market by paying cash with aggregate amount not exceeding Rs 308 crore as the present value of shares does not reflect its true valuation.
The Mumbai-based company, formerly known as United Phosphorus Ltd, deals in generic crop protection, chemicals and seeds.
It has 23 manufacturing sites (9 in India, 4 in France, 2 in Spain, 3 in Argentina and 1 each in UK, Vietnam, Netherlands, Italy and China).
Shares of the company closed at Rs 203.40 apiece, down 1.64 per cent, on the BSE.
