Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Corporate Results
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Paints Goodlass Nerolac Q3 net up 50 pc Our Bureau
Mumbai , Jan. 29
GOODLASS Nerolac Paints Ltd has reported a 50.57 per cent increase in net profit at Rs 16.94 crore during the October-December 2003 quarter as compared to Rs 11.25 crore in the year-ago period. The company's continuing efforts at inventory management, cost control, formulation management and material cost management have helped it sustain a good bottomline growth, Mr H.M. Bharuka, Managing Director, Goodlass Nerolac Paints, said. "Despite inflation we have been able to manage our material costs very well," he said. Gross sales for this period stood at Rs 245.97 crore (Rs 214.74 crore). Topline growth was mainly driven by robust demand for automotive paints and decorative paints, Mr Bharuka said. For the nine-month period, gross sales stood at Rs 703.91 crore, higher by 17 per cent from the year-ago period's sales of Rs 600.20 crore. Net profit was Rs 44.65 crore (Rs 31.19 crore), up 43 per cent.
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