Berger Paints Q1 Results: Net profit rises 40% to ₹355 cr, revenue up 8% YoY
Berger Paints Q1 Results: Berger Paints India on Wednesday reported a 40 per cent rise in consolidated net profit at ₹354.91 crore for the June quarter. The company, which had posted a consolidated net profit of ₹253.71 crore for the same period in the last fiscal, said its board has approved the issue of one bonus equity share of face value of Re 1 each against 5 equity shares of the face value of Re 1 each, subject to shareholders' approval.
Consolidated revenue from operations during the first quarter of the current fiscal was ₹3,029.51 crore as against ₹2,759.7 crore in the year-ago period, Berger Paints India said in a regulatory filing. Total expenses were higher at ₹2,570.68 crore as compared to ₹2,433.92 crore in the year-ago quarter.
"The decorative business saw double-digit growth both on value and volume fronts on high bases... Auto GI (General Industry) and protective division have done well even on high bases.
Powder coatings underperformed in Q1 (April-June), but is expected to do better in Q2," Berger Paints India Managing Director and Chief Executive Officer Abhijit Roy said. Further, he said the company's Nepal operations underperformed due to country-specific issues and will rebound in the coming quarter.
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