Kolkata-based Berger Paints India Ltd reported an over 21 per cent increase in net profit at Rs 56 crore for the July-September quarter. It had reported a net profit of Rs 46 crore in the corresponding quarter last fiscal.
During the quarter under review, the company reported a 16 per cent increase in net sales to Rs 827 crore from Rs 711 crore in the same quarter last fiscal.
Berger is the second largest player in the decorative paints market.
On a consolidated basis, the company reported a net profit of Rs 63 crore and net sales of Rs 962 crore.
According to a release issued by the company to the stock exchanges, the automotive and industrial coatings business was affected because of the economic slowdown, especially in the heavy commercial vehicles segment. Protective coatings business was restrained on account of subdued infrastructure growth.
“The company’s decorative business recorded good double-digit volume growth driven by healthy performance across geographies, particularly Tier 2 and Tier 3 cities,” Abhijit Roy, Managing Director, Berger Paints, was quoted in a release issued to the stock exchange.
The Berger stock closed at Rs 232.30, up 0.82 per cent, on the BSE on Friday.