Paints and coatings firm Akzo Nobel India today posted over three-fold rise in its profit after tax (PAT) at Rs 238 crore for the fourth quarter ended March of 2017-18.
The company had reported a PAT of Rs 73 crore in the same period of the previous fiscal.
Revenue from operations stood at Rs 772 crore for the fourth quarter, as compared with Rs 705 crore in the same period of 2016-17, AkzoNobel India said in a statement.
For the year ended March 31, the company posted a net profit of Rs 401 crore as compared with Rs 247 crore in 2016-17.
Revenue from operations stood at Rs 2,965 crore for the 2017-18 fiscal, as compared with Rs 2,825 crore in 2016-17.
"2017-18 has been a year of transformation for Akzo Nobel India following the separation of specialty chemicals business," the company's chairman Amit Jain said.
A share buyback programme has been initiated for the benefit of the public shareholders of Akzo Nobel India, he added.
The company's board, which met today, has recommended a dividend of Rs 22 per share.
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