New Delhi: Pidilite Industries on Wednesday reported a 33.92 per cent decline in its consolidated net profit to Rs 156.51 crore for the fourth quarter ended March 31.
The company had posted a net profit of Rs 236.87 crore for the January-March period of 2018-19.
Its revenue from operations declined to Rs 1,544.68 crore for the fourth quarter as compared with Rs 1,639.28 crore in the same period of 2018-19, Pidilite Industries said in a regulatory filing.
For the full financial year 2019-20, the company posted a net profit of Rs 1,122.05 crore as compared with Rs 928.39 crore in 2018-19, it added.
“The quarter performance was significantly impacted by the lockdown on account of the pandemic as well as related disruptions in the supply chain. While topline growth remains subdued, earnings have improved substantially, primarily as a result of softer input costs,” Pidilite Industries Managing Director Bharat Puri said.
COVID-19 is a significant challenge and the company remains committed to working with its partners to overcome this crisis, he added.
“As normalcy returns slowly across various markets we remain cautious and focused on restoring volumes enabled by investments in brand building, growth categories, capabilities and sales and distribution,” Puri said.