New Delhi, Feb 9 (PTI) Paints and coatings maker AkzoNobel India on Tuesday reported a 13.48 per cent increase in profit to Rs 87.37 crore for the third quarter ended December 31, 2020.
It had posted a net profit of Rs 76.99 crore in the same quarter a year ago.
Revenue from operation for the quarter under review increased by 6.54 per cent to Rs 774.64 crore from Rs 727.03 crore in the October-December period of the previous fiscal, AkzoNobel said in a BSE filing.
Rajiv Rajgopal, Managing Director, Akzo Nobel India said the revival in the Indian economy as well as the festive demand helped drive revenue growth in paints, powder, marine and packaging coatings businesses.
“Segments like power and oil & gas were impacted, while real estate has started to see an uptick… The industry is seeing inflationary pressure due to rising raw material costs and we will evaluate as the situation evolves over a period of time,” he added.
The company”s board also recommended interim dividend of Rs 20 per equity share for the financial year 2020-21.
Shares of AkzoNobel settled 0.47 per cent lower at Rs 2,260 apiece on BSE. PTI SVK
Disclaimer :- This story has not been edited by Bollyinsidestaff and is auto-generated from news agency feeds. Source: PTI
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