Stocks

Berger Paints hits record high after Q1 profit spike

Reuters August 6 | Updated on August 06, 2019

Shares of Berger Paints India Ltd rose as much as 5.2 per cent to a record high of Rs 351.65.

The paint manufacturer posted a 32 per cent jump in June-quarter consolidated profit to Rs 177 crore ($25.05 million), versus Rs 134 crore a year ago, beating estimates of Rs 151 crore. Revenue rose 15.7 per cent to Rs 1,716 crore. Around 4 million shares changed hands, versus a 30-day average of about 8,47,100 shares.

Up to last close, the stock was up 1.2 per cent this year, while Asian Paints, which posted a 17.6 per cent rise in Q1 profit on July 24, was 11.1 per cent higher ($1 = Rs 70.6600).

Published on August 06, 2019

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like