UPL slips 7%, hits 3-year low on Q3 loss; cautions on weaker Q4FY24

The company said revenue and margin to be impacted by global channel destocking and ongoing pricing pressure in post patent space exacerbated by higher rebates.

Shares of UPL hit over three-year low at Rs 498.40, on falling 7 per cent on the BSE in Monday’s intra-day trade amid heavy volumes after the company reported a net loss of Rs 1,217 crore in December quarter (Q3F24), due to weak operational performance. The stock of pesticides & agrochemicals company had posted net profit of Rs 1,087 crore in a year ago quarter.

The stock is trading at its lowest level since November 2020. It has corrected 36 per cent from its 52-week high of Rs 780 touched on February 17, 2023. At 10:10 am; UPL was