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Paints major Berger Paints on Tuesday reported a 49.21 per cent year-on-year jump in consolidated net profit to ₹300.16 crore for the third quarter of the current fiscal from ₹201.17 crore in the same period last fiscal.
The company’s revenue grew 6.99 per cent y-o-y to ₹2,881.83 crore (₹2,693.59 crore), according to a stock exchange filing.
The company said its EBITDA (excluding other income) was at ₹480.04 crore (₹349.65 crore), an increase of 37.3 per cent y-o-y.
Commenting on the results, Abhijit Roy, MD & CEO, Berger Paints, said the quarter witnessed strong growth on the volume front and robust growth in operating profits with decorative business line volume growth in double-digits.
“Our Tier-2 and Tier-3 city growth rates were higher than Tier-1 city growth rates. We continued with our aggressive growth in the Waterproofing and Construction Chemicals segment. New product introductions were made in the sealants and roof waterproofing category to fortify our product offerings in this segment,” Roy said.
The company said the general industrial, auto and powder divisions also did “reasonably well” during the third quarter. “In international operations Bolix S.A. Poland, saw a remarkable growth,” Roy said, adding the paint maker continued to expand its network by adding more than 2,300 retail touch points during this quarter.
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