On a consolidated basis, the net profit of Pidilite Industries fell 1.24 per cent after the net profit decline to Rs 332.44 crore despite of 14.7 per cent rise in net sales to Rs 3,011.15 crore in the second quarter of FY23 over the second quarter of FY22.

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In the first quarter of FY23, EBITDA before non-operating income stood at Rs 500 crore. The PBT was at Rs 438.61 crore, down by 10.8 per cent over the first quarter of FY22. Total expense climbed 20.34 per cent year on year to Rs 2,586.60 crore in the second quarter of FY23. The cost of raw materials consumed remained at Rs 1,589.83 crore, up 24.4 per cent and employee expenses stood at Rs 303.24 crore, up 11.02 per cent.

Pidilite Industries has international subsidiaries with sales of goods growth, but EBITDA remained under pressure due to the highest input costs. The net profit of Pidilite declined 9.8 per cent to Rs 336.88 crore despite a 14.9 per cent growth in net sales to Rs 2,715.20 crore in Q2 of  FY23 over Q2 of FY22.