AkzoNobel India announces Q2 FY 2019-20

AkzoNobel India announces Q2 FY 2019-20
09/11/2019 , by , in ALLIED

Akzo Nobel India, a leading Paints and Coatings company and makers of Dulux Paints, today

at the Board meeting announced its unaudited financial results for the quarter and six months

ended 30 September 2019. For the said quarter, the company declared revenue from operations

at 634 crores and a Profit after Tax (PAT) at 49 crores, a growth of 34% over the

corresponding quarter of the previous year.

Performance highlights

Q2 FY20 versus Q2 FY19

  • Revenue from operationsat ₹634 crores, declined 11%
  • EBIT from operationsat ₹52 croresup 5%
  • Profit after taxat ₹49 crores up 34%

Commenting on the performance, Rajiv Rajgopal, Managing Director, AkzoNobel India said, “As we restructure our product portfolio and take actions to improve our mix, we have seen a continued positive impact on our gross margins and profitability. This quarter has seen headwinds in some sectors, mainly Automotive. Our waterproofing range was enhanced with the launch of Dulux Aquatech Roof and Interior Basecoat. Additionally, we introduced Dulux Ambiance Velvet Touch – an exclusive range of super premium interior and special effects paints. Both launches received an encouraging response.”

Rajiv added “Over the years, as part of ‘AkzoNobel Cares’ initiative, we have been using our expertise to help transform communities. This time, we went a step ahead in providing ‘Skills at Doorstep’ through our training van (Kaushal Vahan) to the rural youth. This van is travelling to rural India to facilitate specialized skill training to the painters at grass-root level and promoting Health and Safety awareness.”

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