Nerolac paints net profit up
Kansai Nerolac Paints today reported a marginal increase in its net profit at Rs 125.15 crore for the quarter ended December 31, 2017.
The company had posted a net profit of Rs 123.96 crore during the same period in the previous fiscal, it said in a statement here.
Total income during the October-December quarter stood at Rs 1,164.77 crore, as against Rs 1,168.44 crore in the corresponding period previous fiscal.
“Company has witnessed double digit growth in all segments this quarter, led by decorative. This quarter the effect of an early Diwali which led to preponement of sales last quarter as well as base effect of demonetisation is visible in the sales growth. Inflation was more pronounced this quarter,” Kansai Nerolac Paints Managing Director H M Bharuka said.
“The company is making sustained efforts to get price increases from its customers. Going forward, we expect the growth momentum to be sustained due to favorable macro- economic factors, though there could be pressure on margins due to crude oil price increases and a volatile exchange rate,” he added.