PI Industries has rallied 11% to Rs 135, in otherwise subdued market, after reporting more than doubled net profit at Rs 48.54 crore for the quarter ended June 30, 2013 (Q1), on back of strong growth in sales. The agrochemicals company had profit of Rs 23.45 crore in year ago quarter.
The company has registered a strong 70% year-on-year (YoY) growth in its net revenue at Rs 406 crore mainly driven by volume growth, PI Industries said in a filing.
Domestic agri input revenues grew by 38% YoY mainly due to strong volume improvement driven by favourable onset of monsoon and handsome increase in sowing / acreages of major crops, it added.
Meanwhile, the company’s EBITDA grew to Rs 78.90 crore, up by 60% YoY. EBIDTA margin at 19.4% maintaining healthy product mix and sustaining revenue quality at substantially increased revenue scale, the company said.
The stock opened at Rs 129 and touched high of Rs 142 on NSE. A combined 100,636 shares already changed hands so far against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.
The company has registered a strong 70% year-on-year (YoY) growth in its net revenue at Rs 406 crore mainly driven by volume growth, PI Industries said in a filing.
Domestic agri input revenues grew by 38% YoY mainly due to strong volume improvement driven by favourable onset of monsoon and handsome increase in sowing / acreages of major crops, it added.
Meanwhile, the company’s EBITDA grew to Rs 78.90 crore, up by 60% YoY. EBIDTA margin at 19.4% maintaining healthy product mix and sustaining revenue quality at substantially increased revenue scale, the company said.
The stock opened at Rs 129 and touched high of Rs 142 on NSE. A combined 100,636 shares already changed hands so far against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.
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