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( As on 24/01/2023 21:20)

Pidilite Inds. Q3 net profit down 8.14% at Rs 296.26 cr

The company reported standalone net profit of Rs 296.26 crore for the quarter ended December 31, 2022 as compared to Rs 322.52 crore in the same period last year, registering a year-on-year decline of 8.14 per cent.

Net revenue of the company rose moderately by 12.14 per cent at Rs 2,709.70 crore in October-December quarter of this fiscal as against Rs 2,416.31 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 15.67 per cent to Rs 2,241.92 crore from Rs 1,938.19 crore in year ago period.

Other Income dipped by 50.39 per cent at Rs 3.21 crore versus (Dec'21 Rs 6.47 crore).

Operating Profit slipped by 2.16 per cent to Rs 467.78 crore as against Rs 478.12 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 12.78 per cent in December quarter.

Interest grew by 51.73 per cent y-o-y to Rs 10.09 crore, while Taxation decreased by 3.45 per cent at Rs 107.15 crore (Dec'21 Rs 110.98 crore).