UPL has lowered its gross debt by over $600 million and internet debt by $440 million. (Representative picture)
UPL’s income grew 4.46 per cent to Rs 16,569 crore as in contrast with Rs 15,861 crore within the year-ago interval
Agriculture options supplier UPL on Monday reported 42.56 per cent decline in consolidated internet revenue at Rs 792 crore for March quarter 2022-23. The firm’s internet revenue stood at Rs 1,379 crore within the year-ago interval, UPL stated in a regulatory submitting.
Revenue grew 4.46 per cent to Rs 16,569 crore as in contrast with Rs 15,861 crore within the year-ago interval. “We delivered a resilient set of outcomes for FY23 regardless of dealing with vital headwinds within the ultimate quarter…We lowered our gross debt by over USD 600 million and internet debt by USD 440 million pushed by improved money circulation from operations and a leaner working capital cycle,” UPL Chairman and Group CEO Jai Shroff said.
He said, in line with the company’s priority of creating shareholder value, UPL created distinct pure play platforms during the year to bring in enhanced focus and operational freedom to pursue independent growth strategies thereby unleashing the growth potential of each of UPL’s distinct platforms.
“…as we look ahead to FY24, we are well-positioned to deal with the market headwinds and deliver better profitability growth. In the longer-term, we remain confident of achieving our growth ambitions and transforming the food value chain with emphasis on sustainability,” Shroff added.
UPL Global Crop Protection CEO Mike Frank stated FY23 was a story of two distinct durations, the corporate’s efficiency within the first 9 months delivered 20 per cent development in income and EBITDA.
The fourth quarter was an uncommon one with pricing stress and delayed purchases by channel within the post-patent area due to oversupply of sure molecules, Frank stated.
Shares of the corporate had been buying and selling 0.04 per cent up at Rs 715 apiece on the BSE.
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