Akzo Nobel India, makers of Dulux paint, reported a 16 per cent increase in net profit to ₹97.4 crore on December 31, 2022.
Net profit in the year-ago period was ₹84 crore. Revenue from operations stood at ₹987 crore, up 8 per cent. The EBIT from operation stood at ₹122 crore, up 12 per cent.
According to Rajiv Rajgopal, Managing Director, Akzo Nobel India, in the first nine months of FY23, the company saw a 25 per cent revenue growth, which has led to market share gains.
“The topline growth of 8 per cent in the quarter was led by a strong performance across the coatings businesses. Decorative paints saw a relatively muted growth, retail markets were affected by the monsoon in October, but saw an uptick in November and December. Our double-digit profitability was driven by margin management and operating efficiencies,” he said.
The Board of Akzo Nobel India has announced an interim dividend of ₹25 per share for FY23.