Pidilite Industries net profit up 66% at ₹510.9 crore, margin improves

Commenting on the results, Bharat Puri, Managing Director, Pidilite Industries said, "At Pidilite, we delivered another quarter of robust Underlying Volume Growth (‘UVG’) along with substantially improved profitability. Continued moderation in input costs resulted in good improvements in Gross Margins, enabling us to invest behind our brands as well as other growth initiatives. Our growth remained broad-based across categories and geographies. We continue to remain optimistic about market demand in the near term, with increased government spending and the overall improvement in construction activities. We remain committed to deliver volume led profitable growth via investment in our brands, supply chain, digital infrastructure, innovation and customer facing initiatives.”

Pidilite Industries share price settled at ₹2,534.05 apiece on NSE, down 5.36%. The scrip hit the day's low at ₹2,488.10, falling over 6.5% in intra-day trade.