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UPL profit grows in Q2 FY2015

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UPL Ltd. (formerly United Phosphorous Ltd.), reported a higher net profit for the second-quarter of 2015, ended on September 30th , both on consolidated and stand-alone basis, on an increase in sales.

Consolidated Results

Its quarterly net sales grew by 15 percent to Rs.2,617.70 crore from Rs.2,269.22 crore in the prior-year quarter, while other operating income totaled Rs.44.62 crore, compared with Rs.60.42 crore in the year-ago quarter.

For the first six months, the company posted a consolidated net profit, after minority interest and share of profit of associates, of Rs.454.69 crore, up by 27 percent from Rs.357.28 crore for the comparable period last year. Net sales and other operating income stood at Rs.5,419.00 crore, compared with Rs.4,785.20 crore in the corresponding period a year-ago, an increase of 13 percent.

Stand-alone Results

The company's second-quarter stand-alone net profit increased by 22 percent to Rs.201.45 crore from Rs.165.13 crore in the corresponding quarter last year. Net sales and other operating income grew by eight percent to Rs.1,382.46 crore from Rs.1,279.89 crore for the comparable period last year.

During the quarter, income from "Agro Activities" rose by 12 percent to Rs.1,300.15 crore from Rs.1,159.05 crore in the preceding year quarter, while that of "Non Agro Activities" increased by 24 percent to Rs.234.77 crore from Rs.189.88 crore in the year-ago quarter. Income for the quarter from "Unalloacated" segment was Rs.1.32 crore, in contrast to Rs.2.87crore in the corresponding quarter last year.

For the first half-year, the company posted a stand-alone net profit of Rs.308.26 crore, flat from last year's Rs.309.36 crore. Net sales and other operating income amounted to Rs.2,774.00 crore, compared with Rs.2,628.32 crore in the corresponding period a year-ago, reflecting a six percent growth.