Latest News | Pidilite Industries Q2 Net Profit Up 10 Pc to Rs 356 Cr
Get latest articles and stories on Latest News at LatestLY. Pidilite Industries on Wednesday reported a 9.66 per cent increase in consolidated net profit at Rs 356.44 crore for the September quarter.
New Delhi, Nov 4 (PTI) Pidilite Industries on Wednesday reported a 9.66 per cent increase in consolidated net profit at Rs 356.44 crore for the September quarter.
The company, a leading manufacturer of adhesives, sealants and construction chemicals, had posted a profit of Rs 325.04 crore in the July-September period a year ago.
Revenue from operations rose 4.08 per cent at Rs 1,880.33 crore during the quarter under review, as against Rs 1,806.58 crore in the year-ago period, it said in a regulatory filing.
"Profit after tax (PAT) at Rs 357 crore grew by 10 per cent over the same quarter last year due to tax reversal in the prior year with reduction in corporate tax rate (on like to like basis PAT grew by 34 per cent)," Pidilite Industries said in a post-earnings statement.
Total expenses were at Rs 1,424.23 crore, as against Rs 1,486.85 crore earlier, down 4.21 per cent.
"This quarter saw steadily improving demand conditions each month. Consumer and Bazaar businesses grew volumes aided by strong growth in the rural and semi urban areas. B2B businesses as well as the metros, while improving sequentially have still to reach pre-Covid levels," Pidilite Industries Managing Director Bharat Puri said.
"Our profitability was aided by benign input costs as well as strong cost optimisation measures," he added.
Shares of Pidilite Industries Ltd on Wednesday settled at Rs 1,562.65 on BSE, down 0.24 per cent from its previous close.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)