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Paints and coatings maker Akzo Nobel India Ltd on Monday reported a 20.6 per cent decline in consolidated net profit to Rs 91 crore in the June quarter, impacted by lower sales amid tepid consumer demand. It had posted a consolidated net profit of Rs 114.6 crore in the corresponding period last fiscal, Akzo Nobel India said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 995.1 crore as compared to Rs 1,036.3 crore in the year-ago period, it added. Total expenses in the April-June quarter were marginally lower at Rs 881.6 crore against Rs 891.7 crore in the same period a year ago, the company said. The company, in which JSW Paints had agreed to buy a 74.76 per cent stake for Rs 8,986 crore last month, followed by an open offer to buy another 25 per cent from the open market for up to Rs 3,929.06 crore, said its board has approved a one-time special interim dividend of Rs 156 per share. Akzo Nobel India Chairman and Managing Direc
The transaction, executed via the bulk deal mechanism at ₹3,651 per share, fetched Asian Paints approximately ₹734 crore