PI Industries stock zooms 4% after strong Q1FY21 numbers

Domestic revenues were up by 76% yoy, contributed by carryover demand from Q4FY20, Isagro brand sales, and robust momentum in the domestic segment on planned brand positioning to avail advantage of early sowing, the company said.

Aug 05, 2020 02:08 IST India Infoline News Service

PI Industries
Shares of PI Industries zoomed 4% on the BSE in the afternoon session on the BSE after consolidated net revenue of rose by 40.58% yoy in Q1FY21.

The consolidated net profit at Rs145.5cr, up by 43% in Q1FY21 as against Rs101.6cr in Q1FY20.

Domestic revenues were up by 76% yoy, contributed by carryover demand from Q4FY20, Isagro brand sales, and robust momentum in the domestic segment on planned brand positioning to avail advantage of early sowing, the company said.

“I am glad that we have received an overwhelming response from the investor community, especially in the midst of ongoing disruptions posed by the pandemic. This showcases investors' trust in growth-oriented approach of PI Industries,” Mayank Singhal Vice Chairman and MD PI Industries Ltd.

P I Industries Ltd is currently trading at Rs1,901.15, up by Rs69.6 or 3.8% from its previous closing of Rs1,831.55 on the BSE.

The scrip opened at Rs1,956 and has touched a high and low of Rs1,966 and Rs1,893.90 respectively.

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