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PI Industries Q1 Results: Profit increases 46% YoY to Rs 383 crore
Aug 10, 2023
In a regulatory filing on August 9, agrochemical manufacturer PI Industries Ltd. reported a 46.2% increase in net profit to Rs. 382.9 crores for the first quarter ended June 30, 2023, from Rs. 262 crores the previous year.
Its total revenue for the year under review was Rs 1,910.4 crore, an increase of 23.8% from Rs 1,543 crore the previous year. Operating-level EBITDA increased by 35.4% to Rs 467.8 crore in the first quarter of this fiscal year compared to Rs 346 crore in the previous quarter.
EBITDA margin was 24.65% in the reporting quarter as opposed to 22.4% in the same period of the previous fiscal year.
Over the past six months, the PI Industries stock has returned 24.02%. As a result, the company has significantly outpaced the benchmark Nifty50 index, which has given a return of 9.92% during the same time period.
Source: Media Reports
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