Stocks

UPL Ltd falls after Q1 profit slumps 65 per cent

Reuters Mumbai | Updated on August 01, 2019 Published on August 01, 2019

Shares of agrochemicals company UPL Ltd are down as much as 6 per cent to Rs 560.6, their lowest since June 20.

The company's June-quarter consolidated net profit plunged 65 per cent to Rs 178 crore versus Rs 510 crore, missing estimates of Rs 517 crore.

Total expenses doubled to Rs 7641 versus Rs 3687 crore a year ago.

Around 63 lakh shares changed hands versus 30-day average of 62 lakh shares

Up to the last close, the stock was down 18 per cent this year, while peer Bayer CropScience, which posted a 60 per cent drop in Q1 profit on July 23, fell 27 per cent.

Published on August 01, 2019
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