Adhesives and industrial chemicals manufacturer Pidilite Industries Ltd on Monday reported an 11.2 percent year-on-year (YoY) jump in net profit at Rs 283 crore for the fourth quarter that ended March 31, 2023.
In the corresponding quarter last year, the company posted a net profit of Rs 254.4 crore. CNBC-TV18 Polls had predicted a profit of Rs 328 crore for the quarter under review.
In the March quarter, total revenue stood at Rs 2,689.3 crore during the period under review, up 7.3 percent against Rs 2,507.1 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 2,732 crore for the quarter under review.
At the operating level, EBITDA jumped 14.5 percent to Rs 459.2 crore in the fourth quarter of this fiscal over Rs 401.1 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 17.1 percent in the reporting quarter as compared to 16 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. EBITDA, before non-operating income for the year at Rs 1,984 crore, grew by 7 percent over last year.
The net sales of the company for the year were Rs 11,752 crore and grew by 19 percent over last year. Net sales for the current quarter at Rs 2,674 crore were higher by 7 percent over the same quarter last year.
Profit before Tax and Exceptional items (PBT) for the year was at Rs 1,723 crore and grew by 7 percent over last year. PBT for the current quarter ended at Rs 393 crore, higher by 13 percent over the same quarter last year.
Bharat Puri, managing director of Pidilite Industries Ltd, said despite the challenging environment on both the demand as well as input cost fronts throughout the year, we have delivered broad-based, robust value and volume growth across our businesses in geographies with revenue crossing Rs 11,000 crore for the first time. The current quarter's revenue growth is primarily driven by domestic demand.
(Edited by : Pradeep John)
