Decorative paints major Berger Paints India has reported a net profit of Rs 76.8 crore in the third quarter of the current financial year compared to Rs 49.1 crore in the same period a year ago, registering a 57 per cent jump.
The company's net sales grew by 17.36 per cent at Rs. 917.10 crore in the quarter under review as against Rs.781.4 crore in the corresponding quarter of the last fiscal.
Company MD & CEO Abhijit Roy told Business Standard that during the quarter company's subsidiaries in Nepal and Poland performed well which helped in a stronger profit after tax (PAT). “Berger being a decorative major, the softening of Rutile (key raw material) prices also helped substantially,” he added.
Following the results, company's shares hit a new high on BSE at Rs 182.35 and settled at Rs 179.85 on the bourses.
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