UPL Ltd Faces Financial Strain with Increased Net Loss

UPL Ltd reported a net loss of Rs 443 crore for Q2 2024-25, up from Rs 189 crore a year prior. This rise is attributed to increased expenses, despite a revenue increase to Rs 11,201 crore. Shares subsequently fell 7.62% on the BSE.

UPL Ltd has reported a significant widening of its net loss to Rs 443 crore in the second quarter of 2024-25, primarily driven by escalating costs. This figure marks a substantial increase from the Rs 189 crore loss recorded in the corresponding quarter of the previous year, according to an exchange filing.

Despite these challenges, the agrochemical company's consolidated income showed improvement, rising to Rs 11,201 crore for the quarter ending September 30, 2024, compared to Rs 10,275 crore in the same period last year. However, expenses surged by 11 percent to Rs 11,505 crore, overshadowing the revenue gains.

As a result of the financial performance, UPL's stock took a significant hit, with shares plummeting 7.62 percent to close at Rs 515.10 apiece on the BSE on Monday.

(With inputs from agencies.)