AkzoNobel India Q3 net profit up 20 pc at Rs 83 cr

Paints and coatings firm AkzoNobel India today reported a 20.50 per cent increase in its net profit at Rs 82.63 crore for the December quarter.

The company had posted a net profit at Rs 68.57 crore during the same period of the previous fiscal, AkzoNobel India said in a regulatory filing.

Revenue from operations during the quarter stood at Rs 711.99 crore as compared to Rs 752.26 crore in the year-ago period.

"Demand for coatings is slowly bouncing back to pre-GST levels. However, high raw material costs continue to impact margins," AkzoNobel India Managing Director Jayakumar Krishnaswamy said.

The stock closed 0.68 per cent down at Rs 1,830.15 apiece on BSE today.