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

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