PI Industries Q4 net up 62.4% at Rs179.8cr on sales boost

Date:05-19-2021

PI Industries Ltd reported 39.98% yoy rise in consolidated sales revenues for the Mar-21 quarter at Rs1,197.10cr. However, on a sequential basis, the sales revenues increased by a more muted 3% compared to top line of Rs1,162.10cr in the Dec-20 quarter.

The bottom line net profits for the Mar-21 quarter were higher by 62.14% at Rs179.80cr and the boost was largely on the back of higher sales ensuring better absorption of fixed costs in the quarter. The economies of scale ensured better EBITDA for the company.

The net profit margins actually improved from 12.94% in the Mar-20 quarter to 15.04% in the Mar-21 quarter supported by a higher profits on a steady revenue base. The net margins, were however, lower on a sequential basis compared to 16.81% NPM in Dec-20 quarter, on the back of higher sales and lower material costs.

Financial highlights for Mar-21 compared yoy and sequentially