Berger Paints India has reported a growth of 33.08 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 292.13 crore in Q2 FY24 as against Rs 219.51 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 2,782.58 crore in Q2 FY24, a growth of 3.69 per cent from Rs 2,683.50 crore it recorded in the similar quarter last year.
Abhijit Roy, MD & CEO of the company said, “We had double digit volume growth in the decorative segment with lesser value growth as sale of low end and commodity items is high during this quarter. Due to delayed festive season and rains in the month of September, the sale of topcoats especially exterior coatings was heavily impacted.
However, we see this improving considerably in Quarter 3. We continue to work firmly on network expansion and implementation of key digital initiatives which should bear fruit in months ahead.”
On September 25, 2023, the company has allotted 19,42,84,497 bonus shares of Rupee one each (fully paid up) in the proportion of 1 bonus shares for every 5 fully paid up equity shares to eligible shareholders. As a result of the bonus issue, the paid-up capital of the company stands increased to Rs. 116.57 crore from Rs. 97.14 crore.
As on September 30, 2023, its net worth stood at Rs 4,549.51 crore, debt-equity ratio was 0.22, current liability ratio was 0.85, total debts to total assets was 0.13, operating margin was 13.46% and net profit margin was 10%.
