Kansai Nerolac Paints on Monday reported a 39.57 per cent increase in consolidated net profit to Rs 152.09 crore for the December quarter, helped by an improvement in margins.
The company had posted a net profit of Rs 108.97 crore in the October-December period a year ago, Kansai Nerolac said in a regulatory filing.
Its revenue from operations rose 5 per cent to Rs 1,918.71 crore in the third quarter of the ongoing fiscal from Rs 1,826.81 crore in the year-ago period.
Total expenses of Kansai Nerolac Paints grew 2.72 per cent to Rs 1,730.61 crore in the December quarter.
Commenting on the results, Managing Director Anuj Jain said, “The quarter saw good demand for industrial coatings. Decorative demand was also good as it registered double-digit volume growth, driven by the festive season.”
Despite crude’s volatility, raw material costs remained constant.
“Gross margins improved over the corresponding quarter last year. The company continues to see traction as regards to initiatives in the areas such as feet-on-street, digital, influencer outreach, new product launches, approvals, and projects,” Jain said.
On the forecast, Jain stated that as the general elections approach, rural demand is projected to increase, supporting overall volume demand in the short term.
However, he said, “Given the evolving geo-political situation, raw material prices may experience volatility.”
