Agrochemicals manufacturer UPL disappointed analysts on Friday with consolidated profit in second quarter falling 54 percent sequentially to Rs 166.2 crore, dented by forex loss and other income.
Revenue during the quarter was slightly above expectations, rising 0.4 percent quarter-on-quarter to Rs 3,657.6 crore.
According to average of estimates of analysts polled by CNBC-TV18, profit was estimated at Rs 327 crore on revenue of Rs 3,556.1 crore and operating profit at Rs 683 crore with margin at 19.1 percent for the quarter.
EBITDA (earnings before interest, tax, depreciation and amortisation) dropped 10.6 percent to Rs 625 crore and margin contracted by 210 basis points to 17.1 percent on sequential basis.
Other income stood at negative Rs 47 crore during the quarter against income of Rs 8.3 crore in previous quarter and forex loss widened significantly to Rs 92.1 crore from Rs 24.7 crore QoQ.
Finance cost in Q2 increased sharply sequentially to Rs 126.6 crore from Rs 106 crore and exceptional loss doubled to Rs 55.65 crore from Rs 28 crore.
At 12:49 hours IST, the stock was quoting at Rs 667.50, down Rs 38.60, or 5.47 percent amid high volumes on the BSE.
