UPL Q2 FY27 Profit Falls 26% YoY to ₹452 Crore; Revenue at ₹11,860 Crore

Key Takeaways

• UPL reported consolidated Q2 FY27 revenue from operations of ₹11,860 crore, down around 1.3% year-on-year.
• Profit for the quarter stood at ₹452 crore compared with ₹612 crore a year earlier.
• The September quarter marked a sharp sequential recovery from the ₹73 crore loss reported in Q1 FY27.

UPL Limited reported consolidated profit of ₹452 crore for the quarter ended September 30, 2026, down about 26% from ₹612 crore in the corresponding quarter last year.

Revenue from operations stood at ₹11,860 crore compared with ₹12,019 crore in Q2 FY26, translating into a modest year-on-year decline of roughly 1.3%.

UPL Returns to Profit After Q1 Loss

While the year-on-year comparison remained weaker, UPL's September-quarter performance improved materially on a sequential basis.

The company had reported a consolidated loss of ₹73 crore in the June 2026 quarter. Revenue in that quarter stood at ₹10,181 crore.

Profit before tax for Q2 FY27 came in at ₹615 crore, compared with a pre-tax loss of ₹109 crore in Q1 FY27 and ₹784 crore in the September 2025 quarter.

Basic earnings per share for the latest quarter stood at ₹4.99, against ₹6.75 in Q2 FY26.

First-Half Revenue Moves Higher

For the six months ended September 30, 2026, UPL reported consolidated revenue from operations of ₹22,041 crore, up from ₹21,235 crore in the same period last year.

Half-year profit stood at ₹379 crore compared with ₹436 crore in H1 FY26. This indicates that revenue increased by roughly 3.8% year-on-year during the first half, even as profit remained below the previous year's level.

The company's latest filing on November 3 related to publication of the unaudited September-quarter and first-half financial results in newspapers. The results had been reviewed by the audit committee and approved by UPL's board on November 2, 2026.

The key factor for investors is therefore the contrast between the sequential turnaround in profitability and the continued year-on-year pressure on quarterly earnings.