Berger Paints' Q3 profit decline marginally to Rs 82 crore

Company had posted consolidated net profit of Rs 82.28 crore during the October-December quarter of last fiscal

Kolkata-based Berger Paints today reported a marginal decline in its consolidated net profit at Rs 82.13 crore for the third quarter ended December 31, 2014 due to increase in tax rates.

It had posted consolidated net profit of Rs 82.28 crore during the October-December quarter of last fiscal, Berger Paints said in a filing to the BSE.

However, Berger Paints' consolidated net sales during the quarter under review increased 8.15% to Rs 1,108.39 crore from Rs 1,024.79 in the same period of the previous fiscal.

"The income tax holiday period at two of the company's unit at Jammu expired on March 31, 2014 leading to increase in effective tax rate from about 28% to more than 34%," the company said in a statement.

Meanwhile, in a separate filing Berger Paints informed that its board in a meeting held today has declared an interim dividend of Rs 0.60 paise per ordinary (equity) share for the financial year 2014-15.

Shares of the company today closed at Rs 229.25 per scrip on the BSE, down 1.38% from its previous close.