Berger Paints India net profit jumps 9-fold to Rs 140 crore in June quarter

Berger Paints India on Friday reported multi-fold jump in its consolidated net profit to Rs 140.48 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 15.09 crore during the April-June quarter of the previous financial year, Berger Paints India said in a regulatory filing.

Its revenue from operations during April-June 2021 rose 93.22 per cent to Rs 1,798.49 crore, against Rs 930.76 crore in the year-ago period.

Total expenses stood at Rs 1,624.36 crore, a jump of 80.20 per cent as compared with Rs 901.42 crore a year ago.

"The group's business operations during the current quarter were impacted due to the COVID-19 pandemic and consequent lockdowns," the company said.

It has taken into account the possible impact of COVID-19 in preparation of the financial results, including assessment of recoverability of its assets.

"The group will continue to monitor any material changes to future economic conditions," it added.

Shares of Berger Paints India Ltd on Friday fell 1.16 per cent to close at Rs 828.55 apiece on the BSE.