PI Industries shares crash 15% to 52-week low after Q2 profit plunges 70%; EBITDA margin drops
Executive Brief • Key Highlights
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- ✓PI Industries shares fell 15 per cent to a 52-week low on Thursday, November 5, after the company reported a 70 per cent drop in Q2 profit.
- ✓Profit fell to Rs 122.2 crore from Rs 409.3 crore last year.
- ✓Higher input costs and pricing pressure hurt the company’s operating margins.
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- MARKET
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- Zee Business
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- 3 Minute(s)
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- India Economy
The company's profit for the period fell to Rs 122.2 crore in Q2, compared with Rs 409.3 crore in the same quarter last year. Image: Official Website
PI Industries Q2 Results: Shares of PI Industries Ltd fell sharply on Thursday, November 5, after the pesticides and agrochemicals company reported a steep decline in its September quarter profit. The stock dropped around 15 per cent to hit a fresh 52-week low, with investors reacting to the fall in profit and pressure on operating margins.
At 1:12 pm, PI Industries shares were trading at Rs 1,844.80 on the NSE, down Rs 342.20 or 15.65 per cent. The stock opened at Rs 2,057.20 and touched an intraday high of Rs 2,077.70. It also hit a low of Rs 1,791, which is its 52-week low. The stock's 52-week high stands at Rs 3,832.90.
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