Kansai Nerolac Paints Q2 Net Rises 4% To Rs 145 Crore

Mumbai: Kansai Nerolac Paints today reported a 3.82 per cent rise in net profit to Rs 144.63 crore in the second quarter ended September 30.

The company had reported a net profit of Rs 139.31 crore in the same quarter in the year-ago period.

Total income during the quarter under review stood at Rs 1178.54 crore as against Rs 1163.14 crore in corresponding quarter last year.

"The company has continued to register a double digit volume growth led by decorative (segment). All segments have done well. This quarter the effect of de-stocking by trade due to GST and preponement of sales due to a early Diwali were visible. The continued effect of higher raw material prices is continuing," said Kansai Nerolac Paints Managing Director HM Bharuka.

"The company is hopeful that with the implementation of GST and its broader acceptance coupled with a good monsoon, demand would be healthy across segments. Raw material prices and availability will continue to remain a concern due to larger geo-political issues," he added.

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