Akzo Nobel sees a 3% increase in Q2 profits

 Akzo Nobel sees a 3% increase in Q2 profits

Revenue for the pain maker increased by 3% year over year to Rs 956.3 crore.

After the paint firm announced a 44% year-over-year (YoY) rise in net profit at Rs 94.2 crore for the period ending in September of the current financial year, Akzo Nobel India saw a 3% gain in trade on November 2.

Revenue reached Rs 956.3 crore, up 3% YoY, according to a filing from Akzo Nobel India. To Rs 120.9 crore, its earnings before interests tax depreciation (Ebitda) climbed by 39% year over year.

Managing director Rajiv Rajgopal said that "improvement in the profit margin was mainly attributed to easing of the material costs coupled with favourable mix." According to him, double-digit profitability was also aided by operational leverage and productivity increases.

The B2B and coatings industries also saw significant increase, but the unpredictable rains and declining demand hurt retail sales.

According to the firm, they have "dulux weathershield protect rainproof' paint," which is designed for regions with high humidity and precipitation. It offers defense against precipitation, dust, sunshine, mold, and algae.

During the quarter, the business also introduced more than 2000 color possibilities for matte and gloss wood treatments in three palettes: neutral, warm, and cool.

Akzo Nobel was up 3.24 percent from the previous close as of 2:31 PM on the National Stock Exchange, trading at Rs 2,457.50.

Over the last year, the stock has increased by 14%, and over the past six months, it has increased by 1.8%.

The coatings firm AkzoNobel manufactures maritime coatings, specialized equipment for auto maintenance, automotive coatings, and transportation industry goods.