Adhesive and construction chemicals manufacturer Pidilite Industries Ltd on Tuesday (May 7) reported a 6.4% year-on-year (YoY) increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, Pidilite Industries posted a net profit of ₹285.9 crore, the company said in a regulatory filing.
CNBC-TV18 poll had predicted a profit of ₹415 crore for the quarter under review.
PBT for the current quarter ended stood at ₹498 crore, higher by 27% over the same quarter last year.
Also Read: IRB Infrastructure Q4 Results | Net profit surges 45%, dividend declaredThe board of directors have recommended a dividend of ₹16 per equity share of ₹1 each for the financial year ended March 31, 2024.
Adhesive and construction chemicals manufacturer Pidilite Industries Ltd on Tuesday (May 7) reported a 6.4% year-on-year (YoY) increase in net profit at ₹304.3 crore for the fourth quarter that ended March 31, 2024.
In the corresponding quarter, Pidilite Industries posted a net profit of ₹285.9 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹415 crore for the quarter under review.
The company's revenue from operations increased 7.9% to ₹2,901.9 crore versus ₹2,689 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹2,810 crore for the quarter under review.
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At the operating level, EBITDA jumped 25.6% to ₹576.9 crore in the fourth quarter of this fiscal over ₹459 crore in the corresponding period in the previous fiscal. CNBC-TV18 poll had predicted an EBITDA of ₹600 crore for the quarter under review.
The EBITDA margin stood at 19.9% in the reporting quarter compared to 17.1% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 21.4% for the quarter under review.
The company's net sales for the year were ₹12,337 crore and grew by 5% over last year. The net sales for the current quarter at ₹2,890 crore were higher by 8% over the same quarter last year. Profit before Tax and Exceptional Items (PBT) for the year at ₹2,451 crore, grew by 42% over last year. PBT for the current quarter ended stood at ₹498 crore, higher by 27% over the same quarter last year.
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The board of directors have recommended a dividend of ₹16 per equity share of ₹1 each for the financial year ended March 31, 2024. Subject to the approval of the shareholders at the 55th Annual General Meeting, the dividend will be paid to the shareholders within a period of 30 days from the date of the 55th Annual General Meeting.
The results came after the close of the market hours. Shares of Pidilite Industries Ltd ended at ₹2,948.25, down by ₹4.50, or 0.15%, on the BSE.
