Berger Paints net profits marginally down in Q3

Kolkata-based paints major Berger Paints Friday said its consolidated net profit for the quarter ending Dec 31 decreased marginally by Rs.15 lakh at Rs. 82.13 crore against Rs.82.28 crore in the same time period last fiscal.

The company's net sales and other operating income for the quarter under review stood at Rs. 1117.10 crore - an increase of 8.5 percent compared to the Q3 of the last fiscal where net sales was registered at Rs.1029.75 crore.

For calendar year 2014, the company's consolidated revenues grew by 13 percent with the net profit increasing by 6.5 percent. The earnings before depreciation, interest and tax grew at a rate of 18.5 percent.

Its standalone profit, however, increased by 11.8 percent clocking at Rs.73.37 crore in Q3 of the current fiscal against Rs.65.65 crore in the same timeframe last fiscal.

The company's standalone net sales and other operating income was Rs.978.30 crore for the third quarter of the current fiscal against Rs.882.78 crore in the corresponding quarter of the last fiscal.

The company said its tax rate in Jammu and Kashmir increased from 28 percent to 34 percent as a result of the lapse of the income tax holiday at two of its units in the state.