PI Industries has rallied 7% to Rs 634 after reporting more-than-double net profit at Rs 23.96 crore for the third quarter ended December 31, 2012 (Q3) on back of higher operational income. The agrochemicals manufacturer had profit of Rs 11.44 crore in a year ago quarter.
“Net revenue improved 49% at Rs 283 crore on year-on-year (YoY) mainly on account of significant growth contribution of custom synthesis of around 100% YoY from last year,” PI Industries said in a statement.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) margins were at 16.8% against 15.78% in year ago quarter, backed by judicious portfolio of products in the domestic business and robust scale-up in exports, it added.
Meanwhile, the company sees substantial upside from the Jambusar facility, as delivery of orders on hand accelerates. PI drawing roadmap for the expansion of capacity.
The stock opened at Rs 609 and hit a high of Rs 639 on NSE. A combined around 8,700 shares have changed hands on the counter in early morning deals on NSE and BSE.
“Net revenue improved 49% at Rs 283 crore on year-on-year (YoY) mainly on account of significant growth contribution of custom synthesis of around 100% YoY from last year,” PI Industries said in a statement.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) margins were at 16.8% against 15.78% in year ago quarter, backed by judicious portfolio of products in the domestic business and robust scale-up in exports, it added.
Meanwhile, the company sees substantial upside from the Jambusar facility, as delivery of orders on hand accelerates. PI drawing roadmap for the expansion of capacity.
The stock opened at Rs 609 and hit a high of Rs 639 on NSE. A combined around 8,700 shares have changed hands on the counter in early morning deals on NSE and BSE.