Kansai Nerolac Paints falls 9% on weak Q2 results

The stock slipped 9% to Rs 378, also its 52-week low, after the company posted 15.6% YoY declined in net profit at Rs 1.22 billion in September quarter, due to higher operational costs.

Shares of Kansai Nerolac Paints have slipped 9% to Rs 378 per share, also their 52-week low on the BSE, after the company posted a 15.6% year on year (YoY) declined in its net profit at Rs 1.22 billion in September quarter (Q2FY19), due to higher operational cost. The company had a profit of Rs 1.45 billion in the same quarter last fiscal.

Net sales of the company, however, grew 10.7% YoY at Rs 12.86 billion during the quarter. EBIDTA (earnings before interest, tax, depreciation, and amortization) was Rs 1.95 billion down by 11.9% over the same quarter of the