Kansai Nerolac Paints Q1 net declines 7% to Rs 30.19cr

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Kansai Nerolac Paints Q1 net declines 7% to Rs 30.19cr

This article was posted on Jul 28, 2008 and is filed under Press Releases

Kansai Nerolac Paints Limited, India’s second largest paint company announced its unaudited results, for the first quarter ended June 30, 2008, of current fiscal year 2008-2009

At the Board Meeting held today, the Company declared gross sales of Rs.432.55 crores, an increase of 11.6% as compared to Rs 387.70 crores in the previous period while the Profit Before Tax decreased by 5.8% to Rs.42.85 crores. PBDIT is more or less at same level at Rs.43.95 crores, as compared to Rs.44.54 crores of the previous year same period. The company reported a net profit of Rs.30.19 crores for the first quarter registering a degrowth of 7% over the net profit of Rs.32.47 crores during the corresponding quarter of last year, mainly due to lower other income and raw material inflation.

Commenting on the performance of the company, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd, said “Increase in oil price, freight cost and other inflationary pressures affected our profits of this quarter. Decorative continues to support Top Line, while Industrial business remains affected due to low growth in the automobile industry.

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