By [ad_1]
Shares of PI Industries Ltd. rose the most in nine months after net income and revenue beat analysts’ estimate in the quarter ended June.
PI Industries Q1 FY23 (Consolidated, YoY)
-
Revenue up 29% at Rs 1,543.2 crore (Estimate: 1,418 crore)
-
Ebitda up 39% at Rs 345.60 crore
-
Ebitda margin at 22% against 21%
-
Net profit up 40% at Rs 262.4 crore (Estimate: Rs 220 crore).
Shares of PI Industries rose as much as 6% as of 11:00 am on Thursday. The trading volume was 20 times the 30-day average.
Of the 28 analysts tracking the company, 23 maintain a ‘buy’, three suggest a ‘hold’ and two recommend a ‘sell’, according to Bloomberg data. The 12-month consensus price target implies a downside of 2.1%.
Morgan Stanley reiterated ‘overweight/In-line’ rating, while Axis Research retained ‘buy’ on the stock in the last two days.
[ad_2]
Source link
