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Paint-maker Akzo Nobel India reported a profit after tax (PAT) of ₹94.2 crore, up 44 per cent y-o-y for the period ended September 30, 2023. The company’s PAT in the year ago period was ₹65.4 crore.
Revenue from operations for the period under review was ₹956.3 crore, up three per cent.
The Earnings before interest and tax (EBIT) from operations stood at ₹120.7 crore, up 39 per cent.
According to Rajiv Rajgopal, Managing Director, Akzo Nobel India, in Q2 FY24, the company continued building on margin improvement and topline growth.
Coatings business and B2B segment registered strong growth.
“In retail, softening demand and erratic rains muted sales,” he said adding that “improvement in gross margins was mainly attributed to easing of raw material costs coupled with favourable mix”.
Operating leverage and productivity gains further contributed to our double-digit profitability, Rajgopal said.
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