Revenue from Operations for the quarter ended 30th June, 2024 was Rs. 3091.0 crores as against Rs. 3029.5 crores in the corresponding quarter of the last year, representing an increase of 2.0% over the corresponding quarter of last year. EBITDA (excluding Other Income) for the quarter ended 30th June, 2024 was Rs. 522.4 crores as against Rs. 556.8 crores in the corresponding quarter of the last year, representing a decline of 6.2% over the corresponding quarter of last year.
Net profit (after share of profit/loss of associates and joint ventures) for the quarter ended 30th June, 2024 was Rs. 354.0 crores as against Rs. 354.9 crores in the corresponding quarter of the last year, representing a decline of 0.2% over the corresponding quarter of last year.
Revenue from Operations for the quarter ended 30th June, 2024 was Rs. 2806.3 crores as against Rs. 2739.8 crores in the corresponding quarter of the last year, representing an increase of 2.4% over the corresponding quarter of last year.
EBITDA (excluding Other Income) for the quarter ended 30th June, 2024 was Rs. 483.7 crores as against Rs. 513.83 crores in the corresponding quarter of the last year, representing a decline of 5.9% over the corresponding quarter of last year.
Net profit for the quarter ended 30th June, 2024 was Rs. 305.5 crores as against Rs. 326.3 crores in the corresponding quarter of last year, representing a decline of 6.4% over the corresponding quarter of last year. "This quarter was tough due to elections, inclement weather and slowdown in a few key markets. In spite of this we were able to deliver double digit volume growth and the highest market share gain in a single quarter.
Though we did well on the volume growth front, the value sales were lower due to the impact of the price drop taken in the prior quarters and stronger sale seen in the high volume, low value products in the waterproofing and construction chemicals category.
Profitability for the quarter, while healthy, had negative growth. Three factors contributed to this, key among them being the base effect of a very high margin recorded in Q1FY24, impact of price reductions in prior quarters and an increased investment in advertising and brand building activities linked to elections.
We continue to register robust growth in waterproofing, construction chemicals and wood coating segments. The industrial segment had a muted performance in April and May but saw revival from June onwards which bodes well for us in the months ahead.
On the international front, our Polish operations continued to do well while our operations in Nepal continues to be a challenge. We are now starting to see some signs of improvement in Nepal.
As part of the regular succession planning exercise of the Company ensuring seamless transition to the next generation of leaders, Rishma Kaur was appointed as the Chairperson of the Company by the Board of Directors at its meeting held with effect from 13th August, 2024. Kanwardip Singh Dhingra was appointed as Vice Chairman of the Company by the Board of Directors at its meeting held with effect from 13th August, 2024. Kuldip Singh Dhingra and Gurbachan Singh Dhingra will continue on the Board as Non-Executive Directors designated Chairman Emeritus and Vice Chairman Emeritus respectively with effect from 13th August, 2024 and would guide their successors on strategic thinking, leadership and overall understanding of the business.
We remain optimistic on the demand scenario for the year ahead and look forward to introducing our customers and influencers to new innovations in products and services as the year progresses", said Abhijit Roy, Managing Director and CEO of Berger Paints India Limited
