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UPL Q4 Net Up 29 Per Cent

14 May 2014

INDIA - Mumbai based global generic crop protection, chemicals and seeds company, UPL (formerly United Phosphorus Limited) has recorded at 29 per cent increase in consolidated profit at $59.82 million for the fourth quarter ended March 31, 2014 (January-March).

During the same period last quarter, the company has recorded $46.22 million in net profits, the company said in a statement recently.

The company’s total income also increased to $558 million during the Q4 ended March 31, 2014, as compared to $471 million earned in the same period last quarter.

During the 2013-14 fiscal year ended March 31, 2014, the company also posted an increase in net profit after taxes to $162.56 million, as compared to $128.52 million recorded during 2013-14 fiscal year.

The company’s total income was also increased from

$1.54 billion for the year ended March 31, 2013 to $1.81 billion for the year ended March 31, 2014.

"The company has completed its offer for buyback of equity share from the open market through stock exchange by acquiring 14 million shares. All these shares are extinguished. Post buyback its share capital stands reduced to $14.23 million consisting of 428 million shares," as per the filing.

The company also has recommended a dividend @ 200 per cent (i.e. $ 0.06 per equity share) on the equity shares of $0.03 each, subject to approval of members at the ensuing annual general meeting.

TheCropSite News Desk

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