Pidilite Industries Q1FY25 results: Net profit rises 21% to Rs 567 cr

India's Pidilite Industries beat first-quarter profit estimates on Wednesday, helped by steady demand for its adhesives and sealants and largely flat costs.

Pidilite reported a consolidated net profit of Rs 567 cr  ($67.4 million) in the April-June quarter, up 21 per cent from a year ago. Analysts were expecting a profit of Rs 532 cr, as per LSEG data.

The adhesives maker notched a 3 per cent sales growth in its biggest segment - consumer and bazaar - which consists of the Fevicol adhesive and Dr. Fixit waterproofing products brands.

During the April-June quarter, India witnessed a booming manufacturing sector activity as output increased on robust demand.

This robust demand, particularly in the construction sector, led to heightened consumption of construction-related chemicals such as those made by Pidilite.

The company reported a revenue of Rs 3,395 cr, compared to Rs 3,275 cr a year ago, while total expenses were largely flat at Rs 2,679 cr.

Its earnings before interest, taxes, depreciation and amortization (Ebitda) margin grew by 15 per cent over the same quarter year ago.

"Given a healthy monsoon and the ensuing festival season, we remain optimistic on market demand and our ability to deliver robust growth," Managing Director Bharat Puri said in an earnings statement.

Shares of Pidilite extended its gains, rising as much as 4.6 per cent after the results.