Shares of PI Industries Ltd. slipped nearly 5% on Wednesday, November 12, after the company reported a weak September-quarter performance marked by double-digit declines in revenue and profit, though margins remained steady.

The company posted a consolidated net profit of ₹409 crore for the quarter, down 19.4% year-on-year from ₹508.2 crore.

Revenue fell 15.7% to ₹1,872.3 crore from ₹2,221 crore in the same quarter last year.

EBITDA also declined 13.8% year-on-year to ₹541.3 crore. However, operating margins improved slightly to 28.9% from 28.3% a year ago.

Despite the year-on-year weakness, the company's performance was ahead of CNBC-TV18's poll estimates, which had estimated a net profit of ₹358 crore and revenue of ₹1,810.5 crore.

The decline in topline was largely attributed to a

See Full Page