PI Industries jumped at 7.25 per cent to Rs 3536.45 after the company reported 46 per cent jump in net profit to Rs 334.8 crore on a 31 per cent rise in revenue to Rs 1,770 crore in Q2 of FY23 over the second quarter of FY22.

The industries recorded 29 per cent boost in exports on a higher base, led by volume growth of approximately 25 per cent, favourable price and currency of approximately 4 per cent. Domestic business registered 36 per cent on a yearly basis, mainly driven by volume growth of approximately 31 per cent and price increase of approximately 5 per cent.

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Also, overheads increased by 16 per cent to Rs 368.4 crore in the second quarter of FY23 from Rs 317.9 crore in the second quarter of FY22. The gross margin in Q2FY23 remained as it is at 45 per cent. Additionally, the company’s increasing input costs and passthrough continued both in exports and domestic businesses in the second quarter of FY23.

During the second quarter, EBITDA was Rs 291.5 crore, up by 49 per cent from Rs 433.1 crore in the second quarter of FY22. EBITDA margin improved to 24 per cent in the second quarter of FY23 from 22 per cent in the second quarter of FY22. The total Capex of PI Industries for H1 FY23 was Rs 120.4 crore as compared to Rs 161.4 crore in H1 FY22.