Nerolac profits decline 7% on subdued demand

Our Bureau
Comment   ·   print   ·  
H.M. Bharuka
H.M. Bharuka

Nerolac Paints Ltd witnessed a 7 per cent decline in its profits at Rs 48 crore in the third quarter of financial year 2013, as against 52 crore in the year ago period. The paint major’s net sales stood at Rs 767 crore, up 15.2 per cent over the same quarter of the previous year. The decline in profits was due to low and subdued demand from the industrial markets, auto and infrastructure sector besides rise in raw material costs, said industry analysts. Commenting on the announcement, H.M. Bharuka, Managing Director, Kansai Nerolac Paints, said, “Demand for the paint has improved over the preceding quarter due to the delayed Diwali season. We are, however, yet to see strong demand recovery. Inflationary pressures have continued during the quarter. We are also yet to see recovery in the working capital cycle. While there is a renewed thrust on reforms, the base effect as well as low demand for automotives makes the outlook for Q4 tough.”

(This article was published on January 22, 2013)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.


Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures



Recent Article in Companies

Canadian research body, biochemical company to test fibre tech at Aditya Birla Group unit

Aditya Birla Group had acquired Terrace Bay Pulp, a North American paper grade pulp company for $110 million in 2012. »

Comments to: Copyright © 2014, The Hindu Business Line.