The company's net income stood at Rs 727.63 crore during the said quarter as against Rs 724.83 crore it had registered in the similar quarter last year.
Rajiv Rajgopal, managing director of the company said, "The company continues to see growth in decorative paints and protective coatings."
During the said quarter, the company recognised depreciation on right-of-use assets amounting to Rs 4 crore and finance cost amounting to Rs 1.4 crore against lease rent of Rs 5.3 crore which would have been recognised under Ind AS 17. Consequently, profit before tax for the said quarter is lower by Rs 20 lakh, the company said in a regulatory filing.