Akzo Nobel India, the paints and coatings company and maker of Dulux Paints on Thursday reported a 44 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 94.2 crore for the quarter gone by, compared to Rs 65.4 crore previous year in the same quarter.
The company’s revenue from operations grew by 3 per cent YoY at Rs 956.3 crore, compared to Rs 926.2 crore in the same quarter same year.
The expenses have been reduced to Rs 838.3 crore than the previous year’s Rs 842.8 crore.
Rajiv Rajgopal, Managing Director, Akzo Nobel India commented, “In Q2 FY24, we 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. 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.”
