Poddar Pigments Reports 45% Drop in Q1 Net Profit Amid Revenue Decline
Poddar Pigments Limited reported a 7.4% decrease in total income to Rs. 93.33 crore and a 45% drop in net profit to Rs. 4.17 crore for Q1 compared to the same quarter last year. Despite improving gross profit margin to 30.3%, EBITDA and net profit margins contracted. The company's cost of materials consumed decreased by 9.5%, while employee benefit expenses increased by 6.4%. The Board approved the results on August 11 and scheduled the 34th AGM for September 26 via video conferencing.