PI Industries during December quarter reported 45% higher net profit as its sales grew 23%
PI Industries, Rajasthan based agricultural chemicals and products manufacturing company said its third quarter net profit increased 45% on in its total sales growth of 29%.
For the quarter to end-December, PI Industries said its net profit surges 45% to Rs34.70 crore from Rs23.96 crore, Its total sales increased 29% to Rs363.38 crore from Rs282.58 crore a year ago period.
During the December quarter PI Industries approved the draft scheme of amalgamation between its holding company, Parteek Finance & Investment Co. Ltd and PI Industries Ltd. However it is subject to requisite regulatory approvals. Under this scheme, there would be no change in the promoters’ shareholding of the company.
During 31 January 2013 to 31 December 2013, FIIs shareholding in the company grew to 19.60% from 17.81%. However, domestic institutional investors (DIIs) shareholding fell to 5.51% from 6.47%, promoter shareholding remained 58.57%.
PI Industries declared 50% interim dividend at Rs0.50 per equity shares for December quarter.
PI Industries closed 5.07% down on Thursday at Rs232.90 on the BSE, while the 30-share benchmark Sensex closed 1.25% down at 20,193.
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