Berger Paints Reported 0.2 Percent Rise in Consolidated Net Profit
Berger Paints reported a 0.2 percent rise in its consolidated net profit at Rs 219.4 crore for the quarter that ended September 30, 2022. The company had posted a net profit of Rs 218.9 crore in the year-ago period. Revenue from operations increased 20 percent to Rs 2,670.9 crore against Rs 2,225 crore registered in September 2021 quarter. Total expenses were at Rs 2,393.56 crore, up 23.4 percent from Rs 1,939.59 crore in Q2FY22. Moreover, the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) was up 2.8 percent to Rs 364 crore as compared to Rs 354 crore registered in the same quarter last fiscal, while its EBIT margin fell 230 basis points to 13.6 percent. On a standalone basis, the company's net profit came in at Rs 190.68 crore as against Rs. 191.79 crore in the corresponding quarter of last year, representing a decline of 0.58 percent, while its revenue was up 22.5 percent at Rs. 2373.75 crore as against September 2021 quarter.