Akzo Nobel India net profit up 14% in March quarter

New Delhi

Paint-maker Akzo Nobel India, owners of the Dulux brand, reported a 14 per cent increase in standalone net profit to ₹109 crore for the quarter ending March 31, 2024. Net profit in the year-ago-period was ₹95.4 crore.

Revenue from operations stood at ₹973.4 crore, up 2 per cent y-o-y.

For the full fiscal, profit after tax stood at ₹426.7 crore, up 27 per cent y-o-y, while the EBIT (earnings before interest and tax) from operations was at ₹549.8 crore, up 24 y-o-y. The revenue from operations stood at ₹3,961.6 crore, up 4 per cent, driven by significant volume growth.

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The Board has declared a final dividend of ₹25 per share. This takes the total recommended dividend to ₹75 per share, the company said in a notice to the bourses.

According to Rajiv Rajgopal, Chairman and Managing Director, Akzo Nobel India Ltd, the company’s double-digit profitable momentum of five years gained further traction.

“In the fourth quarter, double-digit volume gains made in our operating segments saw an expected moderation on account of the industry-wide price corrections with demand being driven by value and B2B business,” he said adding that the sustained raw material deflation and favourable mix allowed for investments in brand awareness and growth, while delivering further margin and profit expansion.

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