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Business News/ Companies / Company Results/  Pidilite Industries Q2 FY24 results: profit rise by 35.41% YOY
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Pidilite Industries Q2 FY24 results: profit rise by 35.41% YOY

Pidilite Industries Q2 FY24 results: Revenue increased by 2.15% YoY & profit increased by 35.41% YoY

Pidilite Industries Q2 FY24 ResultsPremium
Pidilite Industries Q2 FY24 Results

Pidilite Industries, a leading company in the chemical industry, declared their Q2 FY24 results on 08 Nov, 2023. The company reported a topline growth of 2.15% compared to the same quarter last year. Additionally, the profit increased by an impressive 35.41% YoY, showcasing the company's strong performance.

However, when compared to the previous quarter, Pidilite Industries experienced a decline in revenue by 6.08% and a decrease in profit by 3.85%. Despite this, the company's overall performance remains strong and shows a positive YoY growth.

One of the contributing factors to Pidilite Industries' success is the increase in Selling, general & administrative expenses, which rose by 2.17% compared to the previous quarter and increased by 19.76% YoY. This indicates the company's investment in its operations and expansion.

The operating income of Pidilite Industries witnessed a decrease of 4.58% compared to the previous quarter, but showed a significant increase of 38.57% YoY. This showcases the company's ability to generate higher income and improve its operational efficiency.

In terms of earnings per share (EPS), Pidilite Industries reported 8.85 for Q2 FY24, which marks a 35.32% YoY increase. This indicates the company's ability to generate higher profits for its shareholders.

Looking at the market performance of Pidilite Industries, the company has delivered a return of 2.78% in the last 1 week. However, it has witnessed a negative return of -1.44% in the last 6 months and -3.02% year-to-date (YTD). This reflects the volatility and challenges faced by the company in the market.

As of 10 Nov, 2023, out of 18 analysts covering Pidilite Industries, 2 analysts have given a Strong Sell rating, 7 analysts have given a Sell rating, 6 analysts have given a Hold rating, and 3 analysts have given a Buy rating. The consensus recommendation as of the same date was to Sell the company's stock.

Overall, Pidilite Industries' Q2 FY24 results showcase a strong performance with significant YoY growth in both revenue and profit. The company's focus on operational efficiency and investment in its operations has contributed to its success. However, the market performance and analyst recommendations indicate some challenges that the company needs to address.

Pidilite Industries Financials

PeriodQ2 FY24Q1 FY24Q-o-Q GrowthQ2 FY23Y-o-Y Growth
Total Revenue3076.043275.11-6.08%3011.15+2.15%
Selling/ General/ Admin Expenses Total363.15355.45+2.17%303.24+19.76%
Depreciation/ Amortization75.2173.43+2.42%63.64+18.18%
Total Operating Expense2471.542641.59-6.44%2574.92-4.01%
Operating Income604.5633.52-4.58%436.23+38.57%
Net Income Before Taxes621.61644.12-3.49%438.61+41.72%
Net Income450.15468.16-3.85%332.44+35.41%
Diluted Normalized EPS8.859.2-3.8%6.54+35.32%

FAQs

Question : What is the Q2 FY24 profit/Loss as per company?

Ans : ₹450.15Cr

Question : What is Q2 FY24 revenue?

Ans : ₹3076.04Cr

Stay updated on quarterly results with our results calendar

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Published: 10 Nov 2023, 03:40 AM IST
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