Pidilite Industries gains 5% as Q4 earnings beat estimates

The stock hit a new high of Rs 1,137, up 5% on the BSE, after the company reported a better than expected 57% year on year growth in consolidated net profit at Rs 2.48 billion in March quarter

Pidilite Industries hit a new high of Rs 1,137, up 5% on the BSE, after the company reported a better than expected 57% year on year growth in consolidated net profit at Rs 2.48 billion in March quarter (Q4FY18) on double digit volume growth. It had profit of Rs 1.57 billion in a year ago quarter.

Operational revenue during the quarter under review grew 14.5% at Rs 14.85 billion against Rs 12.95 billion in the corresponding quarter of previous fiscal. Other income nearly doubled to Rs 521 million from Rs 286 million.

Analysts on an average had expected