PI Industries Ltd. declared an interim dividend of Rs 6 per equity share with a face value of Rs 1 each.
The record date to determine the shareholders eligible for the dividend payout has been fixed as Feb. 14. The dividend will be paid on or before March 6, the company said in an exchange filing on Thursday.
PI Industries Ltd.'s consolidated net profit fell 17% in the third quarter of the financial year, missing analysts' estimates.
The agro-sciences company posted a profit of Rs 373 crore in the quarter ended December in comparison to Rs 449 crore in the year-ago period, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had estimated a profit of Rs 395 crore.
The company's revenue was up 0.2% to Rs 1,901 crore compared to the previous fiscal's Rs 1,898 crore, falling short of Bloomberg's estimate.
The firm's Ebitda was down to Rs 512 crore, 7.5% less than the previous financial year's Rs 554 crore. Its margin narrowed to 26.9% versus 29.2% in the year-ago period.
Shares of PI Industries rose as much as 1.24% during the day to Rs 3,641.45 apiece on the National Stock Exchange. It closed 1.89% higher at Rs 3,664 crore per share, compared to a 0.39% decline in the benchmark Nifty. The share price has fallen 9.87% on a 12-month basis.
Sixteen out of the 28 analysts tracking the company have a 'buy' rating, six have a 'hold' rating and as many recommend 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 22.4%.
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