Akzo Nobel hits record high after Q3 PAT climbs 16% YoY

Akzo Nobel India rallied 7.62% to Rs 2936.95 after the company's consolidated net profit increased 16.83% to Rs 113.80 crore in Q3 FY24 as compared with Rs 97.40 crore in Q3 FY23.

Revenue from operations rose 4.65% to Rs 1032.7 crore in Q3 FY24 as compared with Rs 986.80 crore in Q3 FY23.

Profit before tax grew 15.12% year on year (YoY) to Rs 151.50 crore in the third quarter of FY24.

EBITDA margin stood at 16.1% in Q3 FY24 as against 14.5% posted in Q3 FY23.

Total expenses rose 2.53% to Rs 889.60 crore in Q3 FY24 as compared with Rs 867.60 crore in Q3 FY23. Cost of material consumed stood at Rs 460.70 crore (down 4.14% YoY), employee benefit expense was at Rs 82.20 crore (up 7.45% YoY) during period under review.

 

On nine-month basis, the company's consolidated net profit jumped 33.38% to Rs 317.90 crore on 4.82% rise in net sales to Rs 2,988.2 crore in 9M FY24 over 9M FY23.

Akzo Nobel India is a leading paints and coatings company and maker of Dulux Paints.

The counter hit an all time high of Rs 3,076.40 in todays intraday session.

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