Pidilite Industries shares fall nearly 3 pc after Q4 earnings

Pidilite Industries on Wednesday reported a 33.92 per cent decline in consolidated net profit at Rs 156.51 crore for the fourth quarter ended March 31. The company had posted a profit of Rs 236.87 crore in January-March period of 2018-19.

Shares of Pidilite Industries on Thursday slipped nearly 3 per cent after the company reported a 34 per cent decline in consolidated net profit for the fourth quarter ended March 31. The stock dipped 2.90 per cent to close at Rs 1,390.90 on the BSE. During the day, it fell 3.39 per cent to Rs 1,383.80.

On the NSE, the scrip declined 2.66 per cent to close at Rs 1,394. Pidilite Industries on Wednesday reported a 33.92 per cent decline in consolidated net profit at Rs 156.51 crore for the fourth quarter ended March 31.

The company had posted a profit of Rs 236.87 crore in January-March period of 2018-19. Revenue from operations declined to Rs 1,544.68 crore during the fourth quarter as compared with Rs 1,639.28 crore in the same period of 2018-19, Pidilite Industries said in a regulatory filing.