UPL net profit up 15% at 286.73 crore in Q3 FY2015-16

Agrochemicals major UPL Ltd recently reported a 15 per cent increase in consolidated net profit at Rs 286.73 crore for the quarter ended December 31,2015, on account of rise in income.

The company had clocked a net profit of Rs 249.28 crore in the year-ago period. Total income during December quarter was Rs 3,181.94 crore compared with Rs 3,060.76 crore in the same period of the last fiscal.

UPL, formerly known as United Phosphorus Ltd, has 10 manufacturing sites in India and one each in the UK, Vietnam, Netherlands, Italy and China. Besides, it has four manufacturing sites in France, two in Spain and three in Argentina. The Mumbai-based company has two other listed firms - Advanta and UEL.

In November last year, UPL had announced merger of Advanta with itself as part of its strategy to provide all agri-solutions through single entity. Post-merger, UPL's geographical reach would expand and result in cost savings of Rs 90 crore annually. Earlier this month, fair trade regulator CCI approved the proposed merger of seed firm Advanta with UPL.