Pidilite Inds heads north after Q4 result

Pidilite Industries rose 2.2% to Rs 1,165 at 15:11 IST on BSE after the company declared its Q4 result after market hours yesterday, 14 May 2019.

Meanwhile, the S&P BSE Sensex was down 248.45 points or 0.67% at 37,070.08

On the BSE, 1.03 lakh shares were traded on the counter so far as against average daily volumes of 72,000 shares in the past two weeks. The stock had hit a high of Rs 1,172.45 and a low of Rs 1,090 so far during the day.

Pidilite Industries reported 3.67% fall in consolidated net profit to Rs 235.14 crore on 10.3% rise in total income to Rs 1696.61 crore in Q4 March 2019 over Q4 March 2018.

Commenting on the quarter performance, Bharat Puri, Managing Director, Pidilite Industries said while Q4 March 2019 has seen some moderation in growth as a result of slower near term market growth, the company has delivered double digit volume growth for the year. While gross margins have improved sequentially, they still remain below last year 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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