Pidilite Ltd., a specialty chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021.
Q3 Results- QoQ
The company’s net profit declined 4.27% to Rs 3.59 billion for the period ended December 31, 2021 as against net profit of Rs 3.75 billion for the previous quarter.
Net sales increased 8.53% to Rs 28.5 billion during the period ended December 31, 2021 as compared to Rs 26.26 billion during the previous quarter.
Q3 Results- YoY
The company’s net profit dropped 19.5% to Rs 3.59 billion for the period ended December 31, 2021 as against net profit of Rs 4.46 billion during the prior-year quarter.
Net sales increased 23.9% to Rs 28.5 billion during the period ended December 31, 2021 as compared to Rs 22.99 billion during the prior-year quarter.
Pidilite Ltd is engaged in the business of manufacture and selling adhesive, industrial and construction chemicals, and art material.
Pidilite Industries Managing Director Bharat Puri said, “This quarter registered strong broad-based volume and value growth across categories and businesses. Continued, unprecedented inflation in input costs necessitated calibrated pricing actions as well as the need to manage costs aggressively to maintain margins in a healthy range.”
“However, we see demand conditions improving as well as input costs moderating by the end of the current quarter/ beginning of the new financial year.”
“We remain confident of the medium- to the long-term potential of the Indian home improvement sector and in our ability to deliver profitable volume growth,” he added.