PI Industries reported 36.75% growth in total revenues for the quarter ended December 2020 on consolidated basis at Rs 1,162.10 crore.

The business of agrochemicals has seen tremendous traction in the last few months with the good Kharif output this year and a good Rabi also likely due to full reservoirs. Buoyant farm incomes have also helped the top line of PI.

The consolidated Profit after tax (PAT) for the quarter was up 61.35% at Rs 195.40 crore on the back of higher top line revenues and other income earned during the quarter.

This other income is largely on account of the Rs.2000 crore QIP placements which continue to remain invested. PAT margins improved from 14.25% in Q3 December 2019 to 16.81% in Q3 December 2020.