PI Industries Q3 Results: Profit Rises 27%, Beats Estimates

PI Industries Ltd.'s net profit increased 27% in the third quarter of fiscal 2024.

The company's profit rose to Rs 448.6 crore in the October-December quarter, in comparison with Rs 351.8 crore in the year-ago period, according to its exchange filing. That compares with the Rs 363-crore consensus estimate of analysts tracked by Bloomberg.

• Revenue up 17.62% at Rs 1,897.5 crore vs Rs 1,613.2 crore (Bloomberg estimate: Rs 1,927 crore).

• Ebitda up 33.36% at Rs 553.6 crore vs Rs 415.1 crore (Bloomberg estimate: Rs 481 crore).

• Margin expands 344 bps to 29.17% vs 25.73%.

• Net profit up 27.51% at Rs 448.6 crore vs Rs 351.8 crore (Bloomberg estimate: Rs 363 crore).

Shares of the company closed 0.91% higher at Rs 3,487.05 apiece, as compared with a rise of 0.30% in the benchmark Nifty 50.