Pidilite Industries' consolidated net profit rose 21.17 percent in the quarter ended June 30. Apurva Parekh, ED of the company, discussed the Q1 performance.

“Our consumer and bazaar business had a volume growth of about 6 percent and the value growth was around 10 percent,” said Parekh.

"The industrial business volume growth was at 11 percent in Q1 of FY20."

Talking about the price deduction, Parekh said, “We have not taken price increase in any of our major product segments in the current quarter. However, in some of the products due to benign crude and raw material prices we have taken some pricing action and reduced prices on some of our product categories during the quarter.”

On the growth front, he said, “Considering the challenging demand scenario, we believe that we have delivered resilient volume growth during the quarter. For the coming quarters of the year, we continue to remain cautiously optimistic.”

“However, from medium to long-term as a company we are working towards achieving consistent double-digit volume growth,” Parekh added.

About the consumption slowdown, Parekh said, “There has been general slowdown as many other companies have reported and so we are not seeing anything different than what others are seeing. So demand scenario has been a bit challenging.”

“It’s difficult to say when the demand scenario will improve but India has good growth potential for most of our product categories. Therefore, we continue to remain cautiously optimistic that it would happen sooner than later,” he added.