Shares of PI Industries plunged 7.48% to an intraday low of Rs 2,889 during Wednesday’s trading session after the agrochemical major reported a sharp decline in quarterly earnings and revenue, triggering investor concerns over slowing growth and margin pressure.
The company posted a consolidated net profit of Rs 200 crore for the quarter, down 39% year-on-year from Rs 330 crore reported in the same period last year. Revenue from operations also slipped 12% to Rs 1,565 crore compared to Rs 1,787 crore a year ago.
