UPL Ltd shares defy expectations today (November 11) with a notable surge in its share price, even after the company in Q2 results reported a widened net. The financial result of the company for the quarter ending September 30, 2024 was announced on November 11, through the regulatory filing.

The stock opened higher and sustained gains through the morning, drawing attention from investors.

Opening Surge and Market Response

The company shares opened at Rs 530 on the BSE, up nearly 3 per cent from the previous closing price of Rs 515.10. The positive opening set the tone for the session, with the stock climbing to an intraday high of Rs 552.70, translating into gains of over 7 per cent.

By 1:18 pm IST, the company’s shares were trading at Rs 533.25, a 3.51 per cent increase.

Share performance

UPL’s market capitalisation stood at Rs 40,040 crore, and the stock remained well above its 52-week low of Rs 447.80, though still some distance from its 52-week high of Rs 625.00.

Financial Highlight

In the consolidated basis, the company’s total income for the Q2FY25 surged to Rs 11,201 crore, up from Rs 10,275 crore in the same period last year. Although there was a surge its income, the expenses of the company also saw an increase which rose to Rs 11,505 crore compared to Rs 10,373 crore YoY.

Image used for representational purposes only

Despite the higher revenue, escalating expenses led to a deeper net loss. UPL’s net loss for the Q2FY25 further widened Rs 585 crore from Rs 293 crore in Q2FY24.

The standalone financial performance showed a slightly different trend. The totak income dropped to Rs 1,203 crore from Rs 2,549 crore YoY. The expenses decreases to Rs 1,172 crore from Rs 1,638 crore. The net loss narrowed to Rs 28 crore, a substantial improvement compared to the Rs 789 crore loss reported in the previous year.