Berger Paints’ net profit up 40% in Q1 FY24, Real Estate News, ET RealEstate

August 26, 2023

NEW DELHI: Berger Paints has reported a growth of 39.89 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 354.91 crore in Q1 FY24 as against Rs 253.71 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 3,043.09 crore in Q1 FY24, a growth of 9.75 per cent from Rs 2,772.74 crore it recorded in the similar quarter last year.

“The decorative business saw double digit growth both on value and volume fronts on high bases. Our operating profit to sales % also increased substantially to 18.8%, a growth of 37.5% and a 2 year CAGR of 52.5%. We usually are in the range of 16-18% of operating profits and the Q1 performance has surpassed that range. Decorative registered volume growth in the mid teens and double digit value growth,” said Abhijit Roy, MD and CEO of the company.

The board of directors approved issue of one bonus equity share of face value of Re 1 each against five equity shares of the face value of Re 1 each.

As of June 30, 2023, the company’s net worth stood at Rs 4,616.65 crore, debt-equity ratio was 0.16, current liability ratio was 0.86, total debts to total assets was 0.10, operating margin was 16.21% and net profit margin was 11.91%.

  • Published On Aug 9, 2023 at 06:00 PM IST

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