Piccadily Agro Industries Limited Reports Staggering Growth in Q3 FY 23-24 Financial Results

BusinessWire India

New Delhi [India], February 8: Piccadily Agro Industries Limited (PAIL), the largest independent manufacturer of malt spirits in India and makers of the award-winning Indri single malt whisky, today announced its outstanding performance for the third quarter of the FY 23-24.

The company has achieved an unprecedented revenue growth of 55.89 per cent QoQ and an increase in profitability of 558.65 per cent QoQ across various key metrics, showcasing its resilience and strategic prowess in navigating challenging market conditions.

Piccadily Agro Industries Limited Q3 FY23-24 Results - Summary

* Revenue - Rs 191.9 crores

* Net Profit - Rs 45.03 crores

* Net Profit Margin - 23.61 per cent

Key Highlights of Q3 Performance:

Record-Breaking Revenue: PAIL experienced a record-breaking surge in revenue of Rs 192 crores, surpassing previous records and exceeding market expectation with a net profit margin growth of 322.5 per cent.

This substantial growth is attributed to an overwhelming performance by Piccadily Distilleries, led by its flagship brand Indri - Trini Indian single malt whisky and malt manufacturing.

This is a testament to the company's robust business model and unwavering commitment to delivering value to its shareholders.

Profit Margin Expansion: The third quarter witnessed an exponential growth in profit from Rs 6.88 crores in FY23 to Rs 45.31 crores in FY24 with a profitability growth of 559 per cent.

Speaking on the milestone achievement, Siddhartha Sharma, Founder, Piccadily Agro Industries Limited, said, "We are extremely pleased with the exceptional growth achieved during the third quarter. This achievement is a testament to the dedication and hard work of our team, as well as our commitment to operational excellence and innovation. Looking ahead, we are confident in the division's ability to maintain this momentum and drive continued success for the company."

Stock Ticker: (PICCADIL | 530305 | INE546C01010)

https://www.bseindia.com/stock-share-price/piccadily-agro-industries-ltd/piccadily-agro-inds/530305/

(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)