UPL Q3 profit up 25 pc at Rs 1,179 cr

The company's profit stood at Rs 944 crore in the year-ago period, UPL said in an exchange filing.

Revenue from operations grew 23.78 per cent during the quarter under review at Rs 11,297 crore compared to Rs 9,126 crore in the same period of 2020-21.

''We delivered another quarter of strong business performance in a challenging environment with growth across all regions except India. We are confident of continuing this business momentum and ending the fiscal year 2022 on a strong note.

''During the quarter, we announced a new strategic partnership in Brazil with 'Bunge', a world leader in sourcing, processing, and supplying oilseed and grain products and ingredients,'' UPL CEO Jai Shroff said.

The company also undertook multiple initiatives to reimagine sustainability in the third quarter and successfully raised a sustainability loan of USD 700 million, he said.

At the same time, UPL furthered its commitment to the Gigaton challenge, its digital platform 'nurture.farm' completed its Crop Residue Management Programme, preventing release of over 1 million tonne of carbon emissions, he noted.

''Taken together, these initiatives underscore our commitment to sustainability as we continue to raise the bar for the industry as a whole with UPL being ranked once again as the number 1 global crop protection company amongst its peers by Sustainalytics in its 2021 ESG rankings,” he added.