PI Industries rewards shareholders with dividend, net profit rises 27.5%

12 Feb 2024 , 02:27 AM

For the quarter that concluded on December 31, 2023, PI Industries’ net profit increased by 27.5% to ₹448.6 Crore. The leading agrochemical company reported a ₹351.8 Crore net profit during the same quarter last year.

In the third quarter of the current fiscal year, PI Industries’ revenue surged to ₹1,897.5 Crore, up 17.6% year over year from ₹1,613.2 Crore in Q3FY23.

In Q3FY24, PI Industries’ EBITDA increased significantly by 33.4% to ₹553.6 Crore, compared to ₹415.1 Crore in the same quarter the previous year. This quarter, the company’s margin increased as well, going from 25.7% to 29.2%.

For the fiscal year 2023–2024, PI Industries additionally declared an interim dividend of 600%, or Rs 6 for each equity share valued at Re 1. The record date has been set by the firm at February 21. Eligible shareholders will get credit on or before March 5.

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