Revenue up by 8.54% at Rs 2,850 Crore, in line with estimates; Net profit drops 4.34% to Rs359 Crore

Indian adhesive manufacturing giant Pidilite Industries on Tuesday reported revenue of Rs 2,850.7 crore for the quarter ended December 31, 2021. This was largely in line with estimates and built on a strong performance in its consumer and bazaar (adhesives, art and craft materials, etc.) and B2B segments (industrial products). This is an increase of 8.54% quarter over quarter, the company said in its quarterly earnings report. Revenue was also up 24% year-on-year from Rs 2,299 crore at the end of Q3FY21.

The company also reported net profit of Rs 359.2 crore against estimates of Rs 402 crore. It was also a decrease of 4.34% QoQ from Rs 375.5 crore, according to the report, and a decrease of 19.5% year-on-year from the reported Rs 446.4 crore during the corresponding quarter of the previous financial year.

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According to the report, the company’s earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 549.1 crore for the latest quarter, which is lower than analysts polled by CNBC-TV18 expected. – Rs 590 crore. The EDITDA fell 14.3% year-on-year, while the margin came in at 19.3%, down from 27.9 year-on-year.

The company said earrings per share of Rs 6.35 crore (basic) and Rs 6.34 crore (diluted), down slightly from Rs 6.68 crore and Rs 6.67 crore, respectively . According to the report, the company’s paid-up share capital, at a par value of Re1 per share, was Rs Rs 50.82 crore, unchanged from Q2FY22.

the businessby C&B segment won Rs 1,925.1 crore last quarter, up 6.8% QoQ, while its B2B segment recorded revenue of 511.74, an increase of 16.45% QoQ.

Additionally, the company reported investments in Mutual Funds/Alternative Investment Funds, Bonds, Preferred Shares, Time Deposits with Banks, etc., at Rs 201.98 crore.

(Edited by : Vijay Anand)

First post: STI

Sallie R. Loera