Akzo Nobel India reported a 4.3% rise in its first-quarter profit, as demand for its paint products across different verticals picked up in June ahead of the monsoon.
The maker of Dulux Paints said its consolidated net profit rose to 1.15 billion rupees ($13.74 million) in the quarter ended June 30, from 1.1 billion rupees a year earlier.
Its revenue from operations was up 3.71 per cent to Rs 1,036.3 crore during the quarter under review. It was Rs 999.2 crore in the corresponding period of the previous fiscal year. This is "highest-ever absolute performance across revenue, gross margin, EBIT and PAT," said Akzo Nobel India in its earnings statement.
Total expenses of Akzo Nobel, the maker of Dulux paints, increased 3.71 per cent to Rs 891.7 crore during the quarter. Akzo Nobel's total income during the quarter was Rs 1,046 crore, up 3.83 per cent. Commenting on results, Chairman and Managing Director Rajiv Rajgopal said, "In the first quarter, we continued to deliver double-digit volume growth across our operating verticals driven primarily by B2B."
