(20 second reading) The adhesive manufacturer, Pidilite’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs.577 crore, lower than the Rs.600 crore estimate. EBITDA margin also stood at 19.9%, lower than the estimate of 21.4%. Net profit for the quarter also stood at Rs.304.3 crore from Rs.415 crore earlier. Additionally, it also incurred an exceptional loss of Rs.71.7 crore on sale of shares in one of its subsidiary.
Among factors that worked for Pidilite during the quarter, revenue beat estimates, consumer business saw volume growth of 12.7% and gross margin saw healthy expansion.