Berger Paints shares rise 4% as Q3 profit decline remains smaller than expected
Berger Paints shares rose nearly 4% to Rs 492.9 in Wednesday’s intraday trade on BSE after the company reported a smaller-than-expected decline in third-quarter profit, supported by strength in its industrial business.
The company’s net profit for the December quarter fell 1.4% year-on-year (YoY) to Rs 295.97 crore amid tough demand conditions. Berger Paints attributed the decline to price reductions in previous quarters, currency depreciation, and inventory impact from rising monomer prices.
Revenue from operations grew 3.2% YoY to Rs 2,975.06 crore, while EBITDA (excluding other income) declined 1.7% to Rs 471.73 crore.
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“The tough market conditions continued into the third quarter with muted urban demand and slowdown in a few key markets,” said Abhijit Roy, Managing Director & CEO of Berger Paints India.
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