Kansai Nerolac Paints Ltd on Monday reported a 36.51 per cent increase in its consolidated net profit to Rs 152.05 crore for the first quarter ended June 30, 2022. The company had posted a net profit of Rs 111.38 crore in the April-June period a year ago, Kansai Nerolac said in a BSE filing.
Its revenue from operations rose 46.23 per cent to Rs 2,051.37 crore from Rs 1,402.76 crore in the year-ago quarter. Total expenses were at Rs 1,847.95 crore, 46.59 per cent higher than Rs 1,260.62 crore in Q1 FY22.
Kansai Nerolac Paints Managing Director Anuj Jain said, "This quarter saw a healthy demand for both Decorative and Industrial Paints. There has been a revival in demand in Industrial led by increased demand in Automotive due to the gradual easing of the chip shortages. While the inflationary trend continued, towards the end of the quarter, there was some softening of input prices for crude-based items which is yet to be reflected in derivatives. Rupee depreciated sharply during the quarter. Company has taken price increases in Decorative and Industrial during the quarter and is in continued discussion with OEM customers for the further price increase," he said.