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Kansai Nerolac Paints has posted a 17 per cent drop in net profit at Rs 47 crore (Rs 57 crore) for the quarter ended September 30.
Cost of raw materials was up at Rs 462 crore (Rs 403 crore).
However, net sales were up 11 per cent at Rs 682 crore (Rs 616 crore). H. M. Bharuka, Managing Director, said: “Demand for the paint improved as the quarter progressed. The inflationary pressure on input costs has continued and ensured that costs have not come down. The company has been able to partly pass on this increase to the market.”
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