UPL Q3 Net Income Above Estimate

UPL Q3 Net Income Above Estimate

Shares of UPL Ltd. rose nearly 3% in intraday trade to Rs 812.7 apiece. The company reported net income for the third quarter that beat the average analyst estimate.

Third quarter results (Consolidated, YoY)

  • Net income up 18% YoY at Rs 936 crore vs Rs 794 crore (Bloomberg consensus estimate: Rs 876 crore)
  • Revenue up 24% YoY of Rs 11,297 crore vs Rs 9,126 crore (Estimate: Rs 10,299 crore)
  • Total costs at Rs 9,982 crore vs Rs 8,211 crore
  • Other income at Rs 70 crore vs Rs 67 crore

Of the 30 analysts tracking the company, 26 maintained ‘buy’, three maintained ‘hold’ and one maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 16%.

Trading volume is nearly two times the 30-day average volume at this time of the day.

Source: Exchange Filing, Bloomberg

India Yields Mostly Lower

  • Most yields along the India sovereign yield curve fell, with 5-year bonds moving the most in Monday morning trading.
  • The 1-year yield remained unchanged at 4.462%.
  • The 10-year yield fell 3.7 bps to 6.716.
  • The 18-year yield remained unchanged at 7.133%

Source: Bloomberg

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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