Shares of Pidilite Industries fell almost 3 percent intraday on June 18, a day after the company reported a nearly 34 percent year-on-year (YoY) decline in its consolidated net profit to Rs 156.51 crore for the fourth quarter ended March 31.
The company had posted a net profit of Rs 236.87 crore for the January-March period of 2018-19.
Its revenue from operations declined to Rs 1,544.68 crore for the fourth quarter as compared with Rs 1,639.28 crore in the same period of 2018-19, Pidilite Industries said in a regulatory filing.
For the full financial year 2019-20, the company posted a net profit of Rs 1,122.05 crore as compared with Rs 928.39 crore in 2018-19, it added.
"Pidilite’s Q4 FY20 performance was below our estimates in terms of revenue and PAT, which were largely impacted by lockdown and exceptional loss. However, the revenue and EBITDA was slightly better than our estimates if we exclude the impact of lockdown," said brokerage firm ICICI Direct.
The company has re-organised its reporting segments and now Consumer & Bazaar (C&B) and Industrial Products have been regrouped, respectively to C&B and B2B segments.
Shares of the company traded 2.38 percent down at Rs 1,398.35 around 11:30 hours on BSE.
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