Berger Paints Q3 results: Net profit jumps 49% to Rs 300 crore
Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year.
Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year.
Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a regulatory filing.
Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year.
"The quarter witnessed strong growth on the volume front and robust increase in operating profits," Berger Paints MD & CEO Abhijit Roy said. The growth rates in tier 2 and tier 3 cities were higher than that of tier 1 cities, he said. The paint maker continued with its "aggressive growth" in the waterproofing and construction chemicals segment.
"New product introductions were made in the sealants and roof waterproofing category to fortify our product offerings in this segment. Industrial and auto divisions also did reasonably well. We continued to expand our network by adding more than 2300 retail touch points during this quarter and strengthening digital initiatives," he added.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
10:21 PM IST