Kolkata-headquarted Berger Paints saw a 51 per cent jump in standalone net profit to ₹110 crore for the quarter ending March 31, 2018. The company had in the corresponding quarter last fiscal reported a net profit of ₹73 crore.
Revenue from operations (excluding excise duty) for Q4 FY18 stood at ₹1,195 crore, a 14 per cent jump over the ₹1,047-crore it reported over the corresponding quarter in the last fiscal.
For the fiscal, the company saw a near 3 per cent year-on-year drop in net profit to ₹432 crore. Revenues stood at Rs ₹4,705 crore.
According to a statement to the bourses, Berger has said financial results are not comparable to previous periods because of exceptional items and adjustments.
Exceptional items for the fiscal include a profit of ₹87 crore on transfer of the company’s paint division relating to four-wheeler passenger cars and SUVs, three-wheelers and related ancillaries. Results also include impairment provision of ₹28 crore on carrying value of investments.
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