Berger Paints' Q2 earnings show a 33% increase in net profit at Rs 292 crore

 Berger Paints' Q2 earnings show a 33% increase in net profit at Rs 292 crore

Q2 profits for Berger Paints: Consolidated operating revenue up 3.6% year over year to Rs 2,767.3 crore.

On November 2, Berger Paints announced a consolidated net profit for the September quarter of the current fiscal year of Rs 292.13 crore, which represents a 33 percent increase from the same time last year.

In Q2FY24, consolidated revenue rose 3.6 percent year over year to Rs 2767.3 crore.

Earnings before interest, taxes, depreciation, and amortization (Ebitda) for the paint maker was Rs 473.65 crore, increasing 30.4 percent year over year.

Abhijit Roy, managing director , executive chairman of Berger Paints, said, "We had substantially volume growth in the decorative segment with reduced value growth as the sale of low-end as well as commodity products is high during this quarter." He said that September rains and a postponed festival season had a significant negative influence on topcoat sales, particularly those of exterior coatings.

The CEO reported strong value growth in the General Industrial and Powder Coatings verticals. "We continue to work firmly on a growing network along with the execution of key digital initiatives which are expected to bear fruit in months ahead," Roy said.

The stock was down 0.56 percent that extends from the previous close as of 2:14 p.m. on the National Stock Exchange, trading at Rs 546.9.

Berger Paints India, which has its headquarters in Kolkata, has 16 production facilities in Poland, Nepal, India, and other nations.