For Q2FY24, UPL’s revenue declined by 18.7% YoY but grew by 13.5% QoQ to INR 1,01,700 Mn due to a YoY decline in volume of 7.0% and a decline of price realization of 15.0% which is marginally offset by forex benefit of 3.0%. The revenue in Latin America (49.5% of total revenue) declined by 17.4% YoY to INR 50,330 Mn due to a price decline in Brazil for Glyphotal and Trunfo but there was volume growth in Mexico and Argentina.