PI Industries posts 35% rise in Q1 net at Rs 9.8 cr

PI Industries, a leading agri inputs custom synthesis and polymer compounding company, has posted 35.7 per cent rise in net profit at Rs 9.8 crore in the first quarter of the current financial year as compared to Rs 7.22 crore in the corresponding quarter of the previous year.

Net revenue of the company increased by 14.4 per cent to Rs 130.3 crore in the period under consideration.

Salil Singhal, chairman of the company attributed to all round growth in the performance supported by strong operating progress in agri inputs, custom synthesis and polymer compounding.

 

The performance outlook for the Financial year 2011 remains buoyant with the onset of a timely monsoon this year and enhanced sales from existing and newly launched products, he said.

“We are making investments in the custom synthesis business, which we expect will deliver significant ramp up going forward. The strong order book position in the custom synthesis space coupled with the healthy growth in the agri-inputs segment augurs well for substantial corporate growth,” he added.