Kansai Nerolac Paints Q2 up 1.17% to Rs 54 cr

Kansai Nerolac Paints today said its net profit rose by 1.17 per cent to Rs 53.61 crore for the second quarter ended September 30.

The company had a net profit of Rs 52.99 crore in the same period previous fiscal, Kansai Nerolac Paints said in a statement.

Net sales of the company rose to Rs 532.98 crore for the second quarter, compared to Rs 448.79 crore in the same period last fiscal.

"The good growth seen by the Indian economy over the last few quarter continued in the second quarter and has helped KNPL achieve good growth for the quarter," Kansai Nerolac Paints MD H M Bharuka said.

He further said: "While demand for automotive products has been very robust, demand for decorative products have been impacted due to a heavy monsoon and also the delay in the Diwali season this year by a month."

For the six months ended September 30, the company posted a net profit of Rs 105.53 crore, compared to Rs 95.29 crore in the same period last fiscal.

The company's net sales for the six months period ended September 30, rose to Rs 1,058.06 crore compared to Rs 861.70 crore in the same period previous fiscal.

Shares of the company today closed at Rs 898.05 on the Bombay Stock Exchange, up 1.21 per cent from its previous close.