Kansai Nerolac Paints Q3 net profit at Rs125.15 crore
Kansai Nerolac Paints’ total income during the October-December quarter stood at Rs1,164.77 crore, as against Rs1,168.44 crore in the corresponding period previous fiscal
Mumbai: Kansai Nerolac Paints on Friday reported a marginal increase in its net profit at Rs125.15 crore for the quarter ended 31 December 2017.
The company had posted a net profit of Rs123.96 crore during the same period in the previous fiscal, it said in a statement in Mumbai. Total income during the October-December quarter stood at Rs1,164.77 crore, as against Rs1,168.44 crore in the corresponding period previous fiscal.
“Company has witnessed double digit growth in all segments this quarter, led by decorative. This quarter the effect of an early Diwali which led to preponement of sales last quarter as well as base effect of demonetisation is visible in the sales growth. Inflation was more pronounced this quarter,” Kansai Nerolac Paints managing director H.M. Bharuka said.
“The company is making sustained efforts to get price increases from its customers. Going forward, we expect the growth momentum to be sustained due to favourable macro- economic factors, though there could be pressure on margins due to crude oil price increases and a volatile exchange rate,” he added.
- iPhone ban in China may push Apple, Qualcomm toward settlement
- Skincare start-up Plum gets funding from Unilever Ventures
- Won’t be surprised by big M&A deals in India in 2019: BofAML’s Raj Balakrishnan
- Licious raises $25 million in funding round led by Nichirei Corp
- Verizon to give buyouts to 10,400 employees in restructuring
Editor's Picks »
- Markets, rupee and bond prices fall after RBI chief Urjit Patel resigns
- Sensex plunges over 1,200 points in two days: 10 updates
- Retaining Rajasthan, MP, Chhattisgarh is key for Modi
- Rupee plunges against US dollar after Urjit Patel’s shock exit: 5 things to know
- Assembly elections 2018: What is at stake for Rahul Gandhi?
- Steel stocks get winter chill as China demand issues resurface
- Why Uday Kotak’s defiance is scaring his bank’s investors
- Exit RBI governor Urjit Patel, enter wrath of the markets?
- The government has a troubling message for minority shareholders
- Opec-allies’ output cut may not amount to big shift in oil prices