Akzo Nobel India, a paint manufacturer, has reported a growth of 17.41 per cent in its net consolidated profit during the quarter ended September 30, 2022.
Its profit after tax (PAT) stood at Rs 65.40 crore in Q2 FY23 as against Rs 55.70 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated income stood at Rs 931 crore in Q2 FY23, a growth of 25.15 per cent from Rs 743.90 crore it recorded in the similar quarter last year.
Rajiv Rajgopal, managing director of the company said, “Our focus continues to be on improving margins and cost rationalization. Decorative paints momentum was led by premium portfolio, robust demand from urban geographies and the conducive real estate sector providing tailwind to projects. Improved demand from infrastructure, oil and gas, automotive and architecture drove coatings growth.”