Berger Paints Q1 results: Net profit at Rs 140 crore

09 Aug 2021 CW Team

On Friday, Berger Paints India recorded a multi-fold increase in its consolidated net profit to Rs 140.48 crore for the first quarter ended June 30.

In a regulatory filing, Berger Paints India said that the firm had posted a net profit of Rs 15.09 crore during the April-June quarter of the preceding financial year.

Its income from operations during April-June 2021 surged 93.22% to Rs 1,798.49 crore, compared to Rs 930.76 crore in the previous year.

Total expenses were at Rs 1,624.36 crore, a rise of 80.20% against Rs 901.42 crore in the previous year.

The company told the media that the group's business operations during the current quarter were affected due to the Covid-19 pandemic and resulting lockdowns.

It has taken into account the possible effect of Covid-19 in preparation of the financial results, comprising the assessment of the recoverability of its assets.

Additionally, it said that the group would continue to observe any material changes to future economic conditions.

On Friday, shares of Berger Paints India Ltd dropped 1.16% to close at Rs 828.55 apiece on the BSE.

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Also read: Kansai Nerolac Paints Q1 results: Profit at Rs 111.38 cr

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