PI Industries Stocks Surge Nearly 2% on Strong Q1 Performance

10 Aug 2023 , 01:34 PM

PI Industries’ stocks experienced a near 2% surge during early trading, following robust Q1 performance. Agro-chemicals manufacturer PI Industries Ltd reported a substantial 46.2 % increase in net profit for Q1.

The net profit reached Rs 382.9 crore for the quarter ended June 30, 2023, compared to Rs 262 crore in the previous year.

The company’s total revenue during the same period saw a notable rise, standing at Rs 1,910.4 crore, marking a 23.8 % increase from Rs 1,543 crore in the previous year.

At the operating level, EBITDA demonstrated robust growth, jumping by 35.4 % to Rs 467.8 crore in Q1 of the current fiscal, as per data.

In terms of EBITDA margin, the company recorded a figure of 24.65 % in the reporting quarter, as opposed to 22.4 % in the corresponding period of the previous fiscal. EBITDA signifies earnings before interest, tax, depreciation, and amortisation.

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