Akzo Nobel India reported a 16.22 per cent increase in consolidated net profit to Rs 97.4 crore in the third quarter ended December 2022, owing to margin management and operational savings.
Akzo Nobel India reported a consolidated net profit of Rs 83.8 crore in the October-December quarter of the previous fiscal year in a regulatory filing.
Its income from operations increased 7.91 per cent year on year to Rs 986.8 crore during the quarter under review, from Rs 914.4 crore the previous year.
Total costs at Akzo Nobel were Rs 867.6 crore, 7.28 percent higher in the third quarter of FY22.
Akzo Nobel India Managing Director Rajiv Rajgopal said: “We have registered a topline growth of 8 per cent in the quarter led by a strong performance across the Coatings businesses. Decorative paints saw a relatively muted growth, retail markets were affected by the monsoon in October but saw an uptick in November and December.”
“Our double-digit profitability was driven by margin management and operating efficiencies,” he added.
The company’s board of directors also proposed an interim dividend of Rs 25 per equity share for fiscal year 23.
On the BSE on Thursday, shares of Akzo Nobel India closed 0.06 per cent down at Rs 2,226.65.
