Akzo Nobel India posts Rs 114.6 cr profit in Q1

Akzo Nobel India Ltd, a paints and coatings maker, reported a 4.27% increase in consolidated net profit to Rs 114.6 crore for the June quarter. This growth was supported by a double-digit volume increase and margin expansion. The company’s revenue from operations also rose by 3.71% to Rs 1,036.3 crore compared to the same period last year, which was at Rs 999.2 crore.

This performance was described as the “highest-ever absolute performance across revenue, gross margin, EBIT and PAT” by Akzo Nobel India. The total expenses of the company increased by 3.71% to Rs 891.7 crore during the quarter. The total income of Akzo Nobel during the quarter was Rs 1,046 crore, marking a 3.83% increase.

Rajiv Rajgopal, Chairman and Managing Director, stated that they continued to deliver double-digit volume growth across their operating verticals, driven primarily by B2B. He also mentioned that they expect an increase in raw material costs in the second half of the fiscal year and plan to take necessary pricing actions without losing competitiveness.

The shares of Akzo Nobel India Ltd were trading at Rs 3,035.95 on the BSE, up 2.06% from its previous close.