Berger Paints’ net profit dips 0.25% in Q1 FY25, Real Estate News, ET RealEstate
NEW DELHI: Berger Paints has reported a minor dip of 0.25 per cent in its net consolidated profit during the quarter ended June 30, 2024. Its profit after tax stood at Rs 354.03 crore in Q1 FY25 as against Rs 354.91 crore it registered in the corresponding quarter of the previous fiscal.
The company’s net consolidated total income stood at Rs 3,127.34 crore in Q1 FY25, a growth of 2.77 per cent from Rs 3,043.09 crore it recorded in the similar quarter last year.
“This quarter was tough due to elections, inclement weather and slowdown in a few key markets. In spite of this we were able to deliver double digit volume growth and the highest market share gain in a single quarter. Though we did well on the volume growth front, the value sales were lower due to the impact of the price drop taken in the prior quarters and stronger sale seen in the high volume, low value products in the waterproofing and construction chemicals category. We continue to register robust growth in waterproofing, construction chemicals and wood coating segments,” said Abhijit Roy, managing director & CEO of the company.
He further added that as part of the regular succession planning exercise of the company, Rishma Kaur was appointed as the chairperson of the company by the board of directors and Kanwardip Singh Dhingra was appointed as vice chairman of the company by the board of directors at its meeting held today with effect from August 13, 2024. Kuldip Singh Dhingra and Gurbachan Singh Dhingra will continue on the noard as non-executive directors designated chairman emeritus and vice chairman emeritus respectively with effect from August 13, 2024.
