Pidilite Industries Limited (PIDILITIND.BO)

Indian adhesive maker Pidilite Industries' Q2 profit jumps; to enter lending

India's Pidilite Industries on Wednesday posted a jump in second-quarter profit on the back of lower costs, and said it would enter the lending business. Pidilite's expenses fell nearly 4%, while revenue grew 2.2%. Pidilite said Pargro, a non-banking financial company, does not have any lending operations presently and is debt-free as on Oct. 31.