Akzo Nobel India, a paints and coatings company, has reported a growth of 27.71 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 95.40 crore in Q4 FY23 as against Rs 74.70 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 957.50 crore in Q4 FY23, a growth of 9.78 per cent from Rs 872.20 crore it recorded in the similar quarter last year.
Rajiv Rajgopal, managing director of the company said, “In FY23 we delivered a record performance in absolute terms across revenue, gross margins and EBIT while continuing to build on our double-digit profitable journey while gaining market share.”
The board of directors recommended final dividend of Rs 40 per equity share for the financial year 2022-23. The total dividend for the financial year aggregates to Rs 65 per share, including interim dividend of Rs. 25 per share, approved by the board on 9 February 2023 and paid subsequently.
The board also recommended reappointment of Hemant Sahai as an independent director, for a further term of three years, with effect from August 3, 2023, it said in the regulatory filing.