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Kansai Nerolac Paints today reported a marginal decline in standalone net profit at Rs 139.84 crore for the quarter ended June 30. The company had posted a net profit of Rs 140.81 crore in the year-ago period.
Total income during the quarter stood at Rs 1,389.52 crore. It was Rs 1,343.93 crore in April-June, 2017-18, the company said in a BSE filing. It said revenue for the quarter ended June 30, 2017 was reported inclusive of excise duty while revenue for June quarter 2018-19 is reported net of GST. “Had the previously reported revenues been regrouped (netted off with excise duty), revenue growth of the company would have been 16.8 per cent for the quarter,” it added.
The quarter witnessed upward movement in crude along with lot of volatility in forex and depreciation in the rupee resulting in high inflation and the company continues to make sustained efforts to get price increases from its customers, it said.
“The company expects the growth momentum to be sustained in the near future due to favourable macro- economic factors, though pressure on margins due to crude oil price rise and a volatile exchange rate will continue,” Kansai Nerolac Managing Director H M Bharuka said. Shares of the company were trading 0.71 per cent lower at Rs 447.50 on BSE.
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