United Phosphorus posts PAT at Rs 184.31 cr for Q1

MUMBAI: Fertiliser maker United Phosphorus Ltd (UPL) on Friday reported a 30 per cent increase in its consolidated net profit after tax to Rs 184.31 crore for the first quarter ended June 30, 2011.

The company had reported a net profit of Rs 141.75 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE).

The consolidated net sales of the company in the first quarter of the current fiscal rose by 27 per cent to Rs 1,822 crore as against Rs 1,430.21 crore in the same quarter of the previous fiscal.

UPL is a leading Indian agro-chemical company engaged in research, manufacturing, marketing, sales and distribution of agrochemicals and specialty chemicals across the globe.

The company on July 26 this year announced that it has acquired 51 per cent stake in the Brazilian firm DVA Agro Do Brasil for USD 150 million (about Rs 663 crore) from Germany's DVA Group.

In March this year, the Mumbai-based company had acquired a 50 per cent stake in Sipcam Isagro Brazil, a 50:50 Joint venture between Sipcam-Oxon group(Sipcam) and Isagro.

Shares of the company were ruling at Rs 165.65 at 1400 hours, up by 1.88 per cent from previous close, on the BSE.