UPL Limited., an Indian multinational agrochemicals manufacturer announced its results for the second quarter ended Sept 30, 2022.
Q2 Results- QoQ
The company’s net profit declined 7.2% to Rs 8.14 billion for the period ended Sept 30, 2022 as against net profit of Rs 8.77 billion for the previous quarter.
Net sales increased 15.5% to Rs 125.85 billion during the period ended Sept 30, 2022 as compared to Rs 108.94 billion during the previous quarter.
Q2 Results- YoY
The company reported 28.4% growth in net profit of Rs 8.14 billion for the period ended Sept 30, 2022 as against net profit of Rs 6.34 billion for the prior-year quarter.
Net sales increased 18.6% to Rs 125.85 billion during the period ended Sept 30, 2022 as compared to Rs 106.14 billion during the prior-year quarter.
The robust growth in the topline was led primarily by higher realizations, which increased 21%, and a favorable exchange rate, which offset the 7% decline in volumes, the company said.
“We are well poised to continue our healthy growth momentum in the 2nd half of the year, and we are confident of meeting our FY23 guidance of revenue growth of 12-15%, EBITDA growth of 15-18%, and reducing net debt by US$ 650 million,” Jai Shroff, chief executive officer said in a press release.
H1 Results- YoY
The company reported 28.9% growth in net profit to Rs 16.91 billion for the period ended Sept 30, 2022 as against net profit of Rs 13.11 billion for the prior-year 1st half period.
Net sales increased 22.4% to Rs 234.79 billion during the period ended Sept 30, 2022 as compared to Rs 191.77 billion during the the 6 Months period last year.
UPL Limited is a leading player in the Indian chemical industry engaged in the manufacture and sale of agrochemicals.