United Phosphorus' mixed results
United Phosphorus (UP) registered a consolidated sales rise of 73% to Rs 8,850.1 million ($222.5 million) in the second quarter of fiscal 2007. Agrochemical sales, which account for around 86% of the consolidated revenues, accounted for Rs 7,611 million approximately. Contribution from the US agrochemical company, Cerexagri, which was acquired by UP in early 2007 (Agrow No 513, p 1) played a role in the jump in revenues. Profit before tax at Rs 909.8 million, however, showed a comparatively modest increase of 20.5% over the same period last year. The main reason for this was an 86% rise in expenses.