Kansai Nerolac Paints Q1 net at Rs 139.84 crore

Kansai Nerolac Paints today reported a marginal decline in its net profit at Rs 139.84 crore for the quarter ended June 30.

It had posted a net profit of Rs 140.81 crore in the corresponding quarter last fiscal.

Its gross sales for the quarter under review grew by 4.89 per cent to Rs 1,513.26 crore from Rs 1,442.75 crore in the same quarter last year, the company said in a statement.

"Company has continued to witness double digit growth in all segments this quarter also. The quarter witnessed an upward movement in crude along with lot of volatility in forex and depreciation in the rupee resulting in high inflation. It continues to make sustained efforts to get price increases from its customers," Kansai Nerolac Paints Managing Director H M Bharuka said.

"The company expects the growth momentum to be sustained in the near future due to favourable macro- economic factors, though pressure on margins due to crude oil price increases and a volatile exchange rate will continue," he added.