Indri whisky maker Piccadily Agro shares hit 5% lower circuit as Q3 net profit declines 45%

The shares of Piccadily Agro Industries shares dropped 5 percent to get locked in the lower circuit at Rs 784.35 apiece on February 5. This comes after the maker of Indri single-malt whiskey reported a 45 percent year-on-year drop in net profit for the quarter which ended on December 31.

Piccadily Agro Industries announced its results of the October-December quarter on February 5. The company reported a net profit of Rs 24.49 crore for the reported quarter, a fall of nearly 45 percent from the Rs 44.89 crore net profit reported in Q3 of the previous financial year.

The company's revenue from operations, however, rose 7 percent year-on-year to Rs 205.72 crore in Q3 of the current financial year, from Rs 191.91 crore reported in Q3 of FY24.

Piccadilly Agro's total income stood at Rs 208.32 crore in Q3 of FY25. This is nearly 8 percent higher than the Rs 191.99 crore total income reported in the year-ago period. Its total expenses meanwhile rose nearly 5 percent year-on-year to Rs 172.16 crore during the reported quarter.