Akzo Nobel India net profit rises 17 pc to Rs 65.4 crore

Paints and coatings maker Akzo Nobel India Ltd on Friday reported a 17.41 per cent rise in consolidated net profit at Rs 65.4 crore in the second quarter ended September 30, 2022 on the back of higher revenue.

The company had posted a consolidated net profit of Rs 55.7 crore in the same quarter last fiscal, Akzo Nobel India said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 926.2 crore as against Rs 740.8 crore in the year-ago period, it added.

Total expenses in the second quarter were higher at Rs 842.8 crore as compared to Rs 668.6 crore in the same quarter a year ago.

''The double-digit top line growth across paints and coatings was led by pricing actions and marketing campaigns for key propositions ahead of festive season,'' Akzo Nobel India Managing Director Rajiv Rajgopal said.

Decorative paints momentum was led by premium portfolio, robust demand from urban geographies and the conducive real estate sector providing tailwind to projects, while improved demand from infrastructure, oil and gas, automotive and architecture drove coatings growth, he added.

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