Leading player in the CPVC pipes and fittings business in India, Astral Ltd. reported a 17.5% decline in net profit for the second quarter of FY25, with profit coming in at ₹108.7 crore compared to ₹131.7 crore in the same period last year.

The drop in profit was primarily driven by a contraction in EBITDA, which stood at ₹210.2 crore, down 4.5% YoY. Consequently, the company’s EBITDA margin decreased to 15.3% from 16.2% a year ago.

On the revenue front, Astral saw a marginal 0.5% increase, with total revenue from operations reaching ₹1,370 crore in Q2 FY25, up from ₹1,363 crore in Q2 FY24. The growth was subdued, reflecting challenges in the market environment, even though Astral continues to maintain a steady revenue base.

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Despite the decline in profit and EBITDA, the company announced an interim dividend of ₹1.50 per share for the financial year 2024-25. The record date for this dividend has been set for November 15, 2024, with payment to be made within 30 days of the declaration.

Astral’s shares closed at ₹1,789.60 on the BSE, down 0.92% on the day.