PI Industries slumps into red

PI Industries is the second top loser on the BSE, close on the heels of Jubilant Life Sciences. And both are there by virtue of their poor Q2 performance. PI Industries, with a volume jump of 15 times, is down 6.5% at Rs.414.25, with an intra day low at Rs.376.15.

The company, for Q2FY15, posted a 8% (YoY) decline in net revenue at Rs.427 crore, with EBITDA falling 21% at Rs.73 crore and net profit for the quarter coming in 11% lower at Rs.49 crore. Domestic agri input revenues were lower than plan due to difficult agro-climatic conditions and custom synthesis exports were lower as per plan.