Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
New Delhi: Pidilite Industries on Thursday reported a 96.43% increase in consolidated net profit to Rs 307.44 crore for the fourth quarter ended March 2021.
The leading manufacturer of adhesives, sealants and construction chemicals had posted a profit of Rs 156.51 crore in the January-March period a year ago, Pidilite Industries said in a regulatory filing.
Revenue from operations climbed 44.72% to Rs 2,235.52 crore during the quarter under review as against Rs 1,544.68 crore in the year-ago period.
“This quarter witnessed robust broad-based growth across all businesses and geographies. Despite significant challenges in FY 21, we have displayed adaptability and resilience while building capacity and capability,” Pidilite Industries Managing Director Bharat Puri said.
Total expenses were at Rs 1,839.36 crore in Q4 FY 2020-21, as against Rs 1,303.69 crore earlier.
For the fiscal year 2020-21, Pidilite Industries’ net profit was marginally up at Rs 1,126.13 crore. It was Rs 1,122.05 crore in the previous financial year. Revenue from operations dipped to Rs 7,292.71 crore from Rs 7,294.47 crore in 2019-20.
The company said its board has recommended a dividend of Rs 8.50 per equity share of Re 1 each for the financial year ended March 31, 2021. On the outlook, Puri said gross margins continue to be impacted due to unprecedented inflation in input costs.
“Despite pricing and cost actions, we expect margins to remain under pressure in the coming quarters,” he said, adding, “The current second wave of the pandemic poses challenges and Pidilite remains committed to working with our partners to overcome this crisis.”