UPL posts 72 pc hike in Q4 profit at Rs 1,065 crore

Agrochemicals manufacturer UPL on Wednesday reported 72 per cent hike in its Q4 FY21 net profit at Rs 1,065 crore from Rs 617 crore in Q4 FY20.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 31 per cent to Rs 2,839 crore from Rs 2,169 crore. Strong margins and cost synergies augured well for a strong EBITDA margin at 22 per cent, the company said.

Q4 revenue from operations increased 15 per cent to Rs 12,797 crore from Rs 11,141 in Q4 FY20 with volume growth of 18 per cent and price increase of 1 per cent.

Chief Executive Officer Jai Shroff said UPL is focused on driving sustainable agriculture and achieving transformational growth through innovative technology as we tap new growth markets and opportunities.

"We aim to lead the agri-solutions space through differentiated products, bio-solutions, digitisation and collaborations across the food value chain."

During the year, the company continued to deliver on its commitment to deleverage the balance sheet and reduced gross debt by Rs 5,039 crore and net debt by Rs 3,140 crore.

The gross debt and net debt as on March 31 was Rs 23,774 crore and Rs 18,922 crore respectively.

( With inputs from ANI )