Pidilite Industries shares climb 2% despite the company reporting a 95% fall in Q1 profit

The company said Q1 performance was significantly impacted by continued lockdowns due to the coronavirus pandemic.

Shares of Pidilite Industries climbed over 2 percent in morning trade on August 7 even after the company reported a 95 percent year-on-year (YoY) fall in June quarter consolidated net profit at Rs 16 crore.

The company's net sales for the quarter stood at Rs 873 crore, down 56 percent YoY while EBITDA before non-operating income stood at Rs 67 crore, down 85 percent YoY.

The company said Q1 performance was significantly impacted by continued lockdowns due to the coronavirus pandemic.

"On an overall basis, we had a near-complete closure on April 20 with recovery from May 20 onwards (broadly 50 percent of outlets being open) and June (saw broadly 80 percent of outlets open). The recovery has continued in July," said the company.

RELATED NEWS

Lupin shares fall 6% after Q1 net profit falls 60% YoY fall

Nomura Investment, Capital Income Builder acquire 1.9% stake in Mindspace REIT

"While near-term demand appears uncertain as a result of the ongoing pandemic and the resultant restrictions across various parts of the country, the company remains focused on restoring volumes and ensuring profitable growth," Motilal Oswal said.

The scrip traded 2.12 percent higher at Rs 1360.15 on BSE around 10:25 hours.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com / SD Solutions advises users to check with certified experts before taking any investment decisions.

Source – Moneycontrol.com

Comments

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...

Futures Trade | A bullish breakout of a flag pattern in HDFC

HDFC is moving in an uptrend with a minor corrective decline. The range is classified as a flag and a breakout of falling minor trendline confirms a possible upside. HDFC is moving in an uptrend with a minor corrective decline from Nov 20 highs. The decline is on lower, contracting volumes and suggests a correction within an ongoing trend. The range-bound action can also be classified as a flag as it is on coming off a sharp rally. A breakout of falling minor trendline confirms a possible upside. Buy around Rs 2300-2310. Keep a stop below Rs 2250 and hold for a target of Rs 2400 and above that to Rs 2450.

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...

SD Solutions

Search This Blog