PI Industries up, hits 52-week high on Q1 show

NEW DELHI: Shares of PI Industries ended 3.41 per cent higher after hitting its fresh 52-week high on Wednesday as the company said its June quarter net profit jumped 48 per cent year-on-year (YoY) to Rs 127 crore.

The company had reported a net profit of Rs 85.80 crore for the corresponding quarter last year. The agrochemicals firm reported earnings post market hours on Tuesday.

Following the results, the stock jumped 7.97 per cent to hit a one-year high of Rs 785.40 on BSE.

Revenue for the quarter grew 15 per cent while Ebitda rose 23 per cent on a YoY basis. Exports surged 20 per cent, while domestic revenues rose 10 per cent despite delayed onset of monsoon rains.

“The scaling up of production at Jambusar on account of additional capacities together with execution against robust order book is contributing towards incremental growth,” the company said in a filing to BSE.