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Our Bureau

Mumbai, July 28

Kansai Nerolac Paints Ltd, previously known as Goodlass Nerolac Paints Ltd, reported a 23.2-per-cent increase in its Q1 profit of Rs 27.10 crore compared to Rs 22 crore in the corresponding period last year.

Gross sales have increased by 18.1 per cent to Rs 326.34 crore against Rs 276.25 crore in the year-ago period. Total expenditure rose by 18.7 per cent to Rs 226.02 crore (Rs 190.38 crore).

"We are looking forward to an eventful year ahead, with a Corporate Identity makeover on the anvil. The boom in housing and automobiles sector continues to accentuate the sales both in decorative and industrial paints.

The company has also bettered its performances because of its cost efficiencies," said the company in a press release quoting its Managing Director, Mr H.M. Bharuka.

Basic EPS rose from Rs 8.62 to Rs 10.62. Shares of the company rose by 2.8 per cent to close at Rs 771 on the BSE.

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JM Financial net up at Rs 8.62 cr

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