Kansai Nerolac Paints Q2 net up 3.82% to Rs 144.63 crore

Kansai Nerolac Paints today reported a 3.82 per cent rise in net profit to Rs 144.63 crore in the second quarter ended September 30.
The company had reported a net profit of Rs 139.31 crore in the same quarter in the year-ago period.
Total income during the quarter under review stood at Rs 1178.54 crore as against Rs 1163.14 crore in corresponding quarter last year.
"The company has continued to register a double digit volume growth led by decorative (segment). All segments have done well. This quarter the effect of de-stocking by trade due to GST and preponement of sales due to a early Diwali were visible. The continued effect of higher raw material prices is continuing," said Kansai Nerolac Paints Managing Director H M Bharuka.

"The company is hopeful that with the implementation of GST and its broader acceptance coupled with a good monsoon, demand would be healthy across segments. Raw material prices and availability will continue to remain a concern due to larger geo-political issues," he added.