India's UPL sees worst day in nine months on surprise Q2 loss

UPL

11/11/2024 10:17

** Shares of agrochemicals company UPL  UPLL.NS  fell as
much as 8.5% to 510 rupees, mark sharpest intraday pct loss
since Feb. 5
    ** Stock hits lowest level since June 5
    ** UPL reports Q2 consol net loss of 4.43 bln rupees ($52.5
mln) vs loss of 1.89 bln rupees year ago
    ** Analysts on average estimated profit of 466.3 mln rupees
- LSEG data
    ** Revenue from ops rose 9% Y/Y; however, total expenses
jumped ~11%    
    ** More than 9.9 mln shares changed hands before market
closed, 6.4x of 30-day avg.
    ** Avg. rating of 22 analysts equivalent of "buy", median PT
is 597 rupees - LSEG data
    ** Stock down 12.3% YTD


($1 = 84.3875 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))