Pidilite Inds slips after Q4 PAT declines 33%

Pidilite Industries fell 1.88% to Rs 1405.50 after consolidated net profit fell 33% to Rs 157.53 crore on 5.8% decline in net sales to Rs 1544.68 crore in Q4 March 2020 over Q4 March 2019.

Consolidated profit before tax fell 20.7% to Rs 222.10 crore in Q4 March 2020 over Q4 March 2019. Current tax expense surged 104.2% to Rs 83.20 crore during the period under review. The result was announced after market hours yesterday, 17 June 2020.

Consolidated EBITDA before non-operating income stood at Rs 303 crore, a growth of 9% over the same quarter last year.

Commenting on the quarter performance, Bharat Puri, managing director, Pidilite Industries said, "The quarter performance was significantly impacted by the lockdown on account of the pandemic as well as related disruptions in the supply chain. While top line growth remains subdued, earnings have improved substantially, primarily as a result of softer input costs. Covid 19 is a significant challenge and Pidilite remains committed to working with our partners to overcome this crisis. As normalcy returns slowly across various markets we remain cautious and focused on restoring volumes enabled by investments in brand building, growth categories, capabilities and sales and distribution."

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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