UPL Shares Zoom 6% After Reporting Reduced Losses In Q4

UPL stock price zoomed 6% after the company reported a reduction in losses for the March quarter compared to the December quarter. 

What Happened: The agrochemical company posted a net loss of ₹80 crore in the quarter that ended in March against the loss of ₹1,607 crore in the December quarter. In the March quarter of the previous year, the company posted a profit of ₹1,080 crore. 

It recorded a revenue of ₹14,078 crore in the quarter, increasing by 42.38% from the previous quarter's ₹9,887 crore. In the January-March period, the company's revenue was at ₹16,569 crore. The company's EBITDA was at ₹1,933 crore in the March quarter. 

Also read: VBL Shares Down In Red Even As Profits Jumped 25% To ₹547 Cr

The company said in the press release that the revenue was affected by pricing challenges, excess returns and unfavourable weather in key regions. Margins also recovered from Q3 due to overhead optimisation. The company's cash collection also improved as its receivables lowered by $450 million compared to the December 2023 quarter. 

The company said in its FY25 guidance that it will focus on profitable growth and cash generation. 

Price Action: UPL stock price gained over 6% to ₹532.60 after the results announcement on Monday afternoon. 

Read Next: India VIX Breaches 20 Mark, Highest Level Since Sept 2022: What Does It Mean For The Markets?

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasUPL