| Company | Value | Change | %Change |
|---|
“We are seeing a strong bounce back versus last year, with normalisation of business, and recovery of volumes and prices. This has helped in regaining our contribution margins back to our previous high levels,” Jai Shroff, Chairman & Group CEO of UPL said.
UPL also managed to reduce its net debt during the quarter by $745 million compared to last year. In comparison to March 2024, the company’s net debt is higher by $363 million.
The company returned to profitability compared to net loss during the same quarter last year. UPL reported a net profit of ₹828 crore, compared to a net loss of ₹1,217 crore.
The company saw lower finance costs during the quarter, along with lower costs of materials consumed, which also contributed to the boost in the bottomline figure.Revenue for the quarter went up by 10% to ₹10,907 crore, driven by a 9% volume growth, 5% price growth. This was offset by forex issues, mainly in Brazil.
The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹2,162 crore from ₹416 crore last year, while margin expanded to 19.8% from 4.2% last year.
“Through our focus on customers, driven by investments in marketing excellence, new launches, and differentiated solutions, we have improved our margins as compared to the last few quarters. We expect benefits from this to continue in Q4, as well as the next financial year,” Mike Frank, UPL Corporation’s CEO said.
Shares of UPL are trading 7.1% higher post the earnings announcement at ₹610.4. The stock is at a 52-week high.
First Published: Jan 31, 2025 3:08 PM IS
