PI Industries reports 17% y-o-y growth in Q1 net profit

7 Aug 2024 , 01:49 PM

On Tuesday (August 6), Udaipur-based agrochemicals company PI Industries Ltd reported a 17.2% YoY growth in net profit at ₹448.8 Crore for the first quarter of 2024. In the quarter, PI Industries reported a net profit of ₹383 Crore, according to a regulatory filing.

The company’s revenue from operations climbed by 8.3% to ₹2,068.9 Crore, up from ₹1,910 Crore the previous fiscal year.

In the first quarter of this fiscal, EBITDA increased by 24.7% to ₹583.2 Crore, up from ₹468 Crore in the previous year. In the reporting quarter, the EBITDA margin was 28.2%, up from 24.5% in the same period last fiscal year.

At around 10.46 AM, PI Industries was trading 3.18% higher at ₹4,400.45 per piece, against the previous close of ₹4,264.75 on NSE. The counter touched an intraday high and low of ₹4,458.30, and ₹4,325.90, respectively.

PI Industries Limited (PI) is an agricultural sciences firm with a large presence in both the domestic and foreign markets. The company operates three manufacturing plants in Gujarat and a research and development unit in Udaipur.

The manufacturing facilities comprise five multi-purpose plants in Panoli and three multi-purpose plants in Jambusar, as well as dedicated high-pressure reaction facilities that are automated in the future.

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