Pidilite Industries Q3 results: Fevicol maker's net profit up 66% YoY

repPidilite Industries manufactures adhesives and industrial chemicals.

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Pidilite Industries has reported a consolidated net profit of Rs 511 crore for the December quarter up 66 percent from the year-ago period.

Consolidated revenue from operations was up 4.4 percent at Rs 3,129.99 crore, the Fevicol maker said in an exchange filing on January 23. Revenue stood at Rs 2,997 crore in the year-ago period.

The company's Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) stood at Rs 742 crore up 50 percent from the same quarter of the previous fiscal.

EBITDA margins for the company improved by 776 basis points YoY in Q3FY24.

The revenue growth was aided by a strong underlying volume growth of 10 percent across categories and geographies, said the company. "This growth was broad based across consumer and bazaar segment and business to business segments with both segments reporting a double digit underlying volume growth.

Urban and rural markets grew with rural and small town markets outpacing urban growth, said the company.  A part of the moderation in input prices were passed on by way of pricing adjustments to the customers said Pidilite Industries.

"We continue to remain optimistic about market demand in the near term, with increased government spending and the overall improvement in construction activities. We remain committed to deliver volume led profitable growth via investment in our brands, supply chain, digital infrastructure, innovation and customer facing initiatives," said Bharat Puri, managing director of Pidilite Industries.

Pidilite Industries manufactures products like materials and stationery, food and fabric care, car products, adhesives, and sealants. It also makes speciality industrial products like adhesives, pigments, textile resins, leather chemicals, and construction chemicals.