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Paint-maker Akzo Nobel India reported a five per cent drop in net profit to ₹37 crore for the quarter ended September 30, 2018. Net profit in the year-ago-period stood at ₹39 crore.
During the quarter, the company’s revenue from operations saw an over 8 per cent increase to ₹714 crore, as against ₹659 crore in Q2FY19.
According to a release issued by the company, net profit for the quarter reflected a higher tax incidence compared to the corresponding quarter of last fiscal.
“Margins were impacted by increase in raw material cost, depreciation of rupee and unfavourable sales mix,” Rajiv Rajgopal, Managing Director, AkzoNobel India, said.
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