Akzo Nobel Q1 net profit down 10.43%

Paints and coatings maker Akzo Nobel India on Thursday reported a 10.43 per cent dip in its net profit to Rs 60.89 crore for the first quarter ended June 30, 2012 on the back of rupee depreciation contributing to increase in the cost of raw material. The company had posted a net profit of Rs 67.98 crore for the corresponding quarter previous year.