CFO of PI Industries steps down, citing 'personal reasons'
1 min read . Updated: 17 Aug 2020, 09:38 AM IST- PI Industries had reported a strong 41% jump in revenues in Q1
Agri-sciences company PI Industries Ltd today informed that its chief financial officer Subhash Anand "has decided to step down due to personal reasons and has requested for early relieving."
PI Industries said the management has accepted his request and accordingly he shall be relieved from his current responsibilities with effect from closing hours of August 18, 2020.
The company also informed that appointment of a new chief financial officer is under way and the announcement shall be made separately after necessary approvals.
PI Industries shares were down 0.71% to ₹1,924.55 per share as compared to 0.3% gain in Sensex.
Shares of PI Industries have nearly doubled from its March lows of ₹973. Shares had hit a 52-week high of ₹2,154 earlier this month.
In the June quarter, PI Industries had delivered a strong performance. Despite covid challenges, revenues grew 41% to ₹1,060 crore while profit rose 43% to ₹146 crore.
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