Kansai Nerolac Paints Q3 results: Profit rises 76.6% to Rs 204.5 crore

Kansai Nerolac Paints Q3 results: Profit rises 76.6% to Rs 204.5 crore

Kansai on Monday reported a 76.58 per cent jump in its consolidated profit to Rs 204.5 crore for the quarter ended December 31, 2020.

The company had posted a profit of Rs 115.81 crore during the corresponding period in the previous financial year.

Total income during October-December 2020 stood at Rs 1,606.86 crore, up 19.68 per cent as against Rs 1,342.53 crore in the year-ago period, Kansai Nerolac Paints said in a regulatory filing.

Kansai Nerolac Paints Vice-Chairman and MD H M Bharuka said, “The quarter saw a strong bounce back in demand on account of the festive season. Both decorative and industrials witnessed high double-digit volume growth in the quarter with demand recovery across all customer segments.”

He added that the continued aggressive cost control programme along with judicious management of overheads helped the company report a strong growth in Ebitda (earnings before interest, tax, depreciation and amortisation).

Bharuka said basic raw material prices showed an inflationary trend.

“Inflation is likely to continue in the near future along with continued volatility in forex (foreign exchange) rates. Looking forward, the company is optimistic that demand would continue to gain momentum,” he added.

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