Kansai Nerolac gains after Q2 net profit rises 33%

Net profit for Sep 2015 quarter increased 33% to Rs 96.9 crore

Shares of Kansai Nerolac were up over 2% at Rs 262 after net profit for the quarter ended September 30, 2015 rose 33% to Rs 96.9 crore compared with Rs 72.7 crore in the same quarter last fiscal on the back of higher EBDITA margins.

EBIDTA margins for the September 2015 quarter increased nearly 16% compared with 13% for the same quarter last fiscal.

Total income for the quarter rose marginally to Rs 971 crore compared with Rs 923 crore in the quarter ended September 30, 2014.

The stock opened at Rs 254 and touched a high of Rs 265. At 1:55pm over 680,000 shares were traded on both the stock exchanges.