Pidilite Inds falls after poor Q3 result

Pidilite Industries fell 1.25% to Rs 1,116.80 at 10:01 IST on BSE after consolidated net profit fell 8.49% to Rs 219.47 crore on 20.2% rise in total income to Rs 1880.44 crore in Q3 December 2018 over Q3 December 2017.

The announcement was made after market hours yesterday, 23 January 2019.

Meanwhile, the S&P BSE Sensex was down 13.29 points or 0.04% at 36,095.18

On the BSE, 52,000 shares were traded on the counter so far as against average daily volumes of 57,000 shares in the past two weeks. The stock had hit a high of Rs 1,137.25 and a low of Rs 1,091.45 so far during the day.

The large-cap company has equity capital of Rs 50.80 crore. Face value per share is Re 1.

Pidilite Industries' EBITDA before non-operating income stood at Rs 337 crore in Q3 December 2018 and declined by 9% over Q3 December 2017, given the input cost led contraction in gross margins by over 6%.

Commenting on Q3 December 2018 performance, Bharat Puri, Managing Director, Pidilite Industries, said the company has delivered another quarter of double digit volume growth. However, this quarter saw gross margins being impacted substantially as a result of input cost inflation and rupee depreciation.

Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India.

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