India`s Pidilite Industries posts Q1 profit rise on strong demand, easing costs
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/6197e5d1f7d900b1cb01a005d2f13bdf.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
India's Pidilite Industries, maker of adhesive brand Fevicol, reported a more than 32% rise in first-quarter profit on Thursday, aided by strong demand and reduced input costs.
The company's consolidated net profit rose to 4.68 billion rupees ($56.53 million) for the three months ended June 30, it said in an exchange filing.
Consolidated revenue from operations rose nearly 6% to 32.75 billion rupees.
The company, also known for its waterproofing product Dr. Fixit and paper-to-paper sticking adhesive Fevistik, said raw material costs dropped nearly 13% to 13.66 billion rupees.
"Rural markets continued to grow faster, signalling a gradual recovery in the rural economy. However, export of consumer and bazaar products declined due to challenging demand conditions in the overseas markets," the company said in a statement.
The consumer and bazaar segment, which sells adhesives, craft materials and construction and paint chemicals to retail users, and accounts for over 80% of Pidilite's revenue, posted revenue growth of more than 9%.
"A combination of moderating input prices and operational efficiencies saw our gross margins improve substantially," said Managing Director Bharat Puri.
Pidilite's shares rose 10.4% during the quarter.
($1 = 82.7920 Indian rupees)
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v89_Wex0B3E.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Zomato07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Piyush Goyal07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v38_zDiylqc.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Prashant Thakur ANAROCK Group.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v152_BhgJWbe.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)