 "agrochemical")
Agrochemicals maker UPL posted a wider quarterly loss on Monday hurt by pricing pressures.
The company reported a consolidated net loss of Rs 443 crore ($52.5 million) for the three months ended Sept. 30 from a loss of Rs 189 crore a year earlier.
Revenue from operations rose 9.1% to Rs 11,090 crore, while total expenses were 10.9% higher at Rs 11,510 crore.
KEY CONTEXT
While international agrochemical demand is recovering, with higher sales volume across geographies, ample supplies from China have curbed price increases and hurt domestic companies' margins, analysts said.
Firms have also been grappling with higher fertiliser and agricultural chemicals inventory and destocking for the past few quarters, weighing on prices, analysts said.
UPL, which reported a second straight quarter of revenue growth after declining for four, expects 4%-8% growth in revenue in fiscal 2025.
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