Companies

AkzoNobel India net declines 15%

Kolkata | Updated on November 12, 2021

Revenue from operations up 22 per cent

Our Bureau

Paint-maker Akzo Maker India reported a near 15 per cent drop in standalone net profit to ₹56 crore for the quarter endEd September 30. Net profit in the year-ago-period stood at ₹66 crore.

Revenue from operations saw an over 22 per cent increase YoY to ₹741 crore.

The EBIT from operations stood at ₹75 crore.

According to Rajiv Rajgopal, Managing Director, Akzo Nobel India Limited, the quarter witnessed unprecedented raw material inflation and supply chain disruptions. Margin management continues to be a focus.

He addedamidst an inflationary environment, the company sustained double-digit growth in value and volume.

“We delivered strong growth across geographies, categories and segments. We mitigated the dilution of margins through a combination of pricing and cost control initiatives,” Rajgopal added.

Published on November 12, 2021

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