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Shares of Pidilite Industries were trading lower by 4% to Rs 572 on the NSE after the company reported a lower-than-expected 10% year on year (yoy) growth in consolidated net profit of Rs 81 crore for the fourth quarter ended March 31, 2015 (Q4), due to lower other income.
The consumer and specialities chemical company had posted a profit of Rs 73 crore in the same quarter last year. It had reported a profit of Rs 124 crore in December 2014 quarter.
Net sales of the company grew 5% yoy at Rs 1,043 crore, while other income more than halved to Rs 8.98 crore in the March quarter as against Rs 19.91 crore in the previous year's corresponding quarter.
Analysts on an average had expected profit of Rs 93 crore and net sales of Rs 1,133 crore for the quarter.
The stock opened at Rs 579 and hit a low of Rs 569 on the NSE. A combined 279,908 shares changed hands on the counter on the NSE and BSE till 1009 hours.
The consumer and specialities chemical company had posted a profit of Rs 73 crore in the same quarter last year. It had reported a profit of Rs 124 crore in December 2014 quarter.
Net sales of the company grew 5% yoy at Rs 1,043 crore, while other income more than halved to Rs 8.98 crore in the March quarter as against Rs 19.91 crore in the previous year's corresponding quarter.
Analysts on an average had expected profit of Rs 93 crore and net sales of Rs 1,133 crore for the quarter.
The stock opened at Rs 579 and hit a low of Rs 569 on the NSE. A combined 279,908 shares changed hands on the counter on the NSE and BSE till 1009 hours.
