India's PI Industries drops on lower quarterly profit

PI Industries

07/02/2025 07:51

** Shares of PI Industries  PIIL.NS  shed 2.5% to 3,550
rupees
    ** Agricultural chemicals maker reports 17% Y/Y drop in Q3
consol profit, rev growth flat at 0.2%
    ** Profit hurt due to promotional expenses for some new
products, co says
    ** PIIL says it is "cautiously progressing to achieve single
digit rev growth for FY25" 
    ** Co forecast high single-digit rev growth for FY25 at the
end of September quarter 
    ** Avg rating of 24 analysts on PIIL at "buy"; median PT is
4,720 rupees - LSEG data
    ** Stock gained ~5% in 2024


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))