Core profit of Akzo Nobel jumps 41% in Q2 FY22

22 Jul 2021 CW Team

Akzo Nobel, a Dutch multinational corporation, increased its core profit by 41% to ₤335 million in the second quarter as demands and cost-cutting measures helped offset a rise in raw material prices.

Analysts polled by the Amsterdam-based company expected adjusted operating income to rise to ₤346.9 million from ₤238 million in 2020.

Following a steep drop in demand due to the coronavirus crisis last year, Akzo Nobel, a global decorative paints and industrial coatings maker, reported a recovery in demand.

Sales increased by 26% to ₤2.51 billion in April-June, slightly exceeding the average analyst forecast of ₤2.44 billion.

In light of ongoing raw material inflation, Thierry Vanlancker, Chief Executive Officer of Akzo Nobel, said in a statement that the company is continuing to take firm and necessary actions on pricing initiatives and cost discipline while remaining focused on serving customers.

From 2021 to 2023, Akzo Nobel expects to grow in line with its relevant markets, delivering a mean annual 50 basis point increase reciprocally on sales.

PPG Industries, the main competitor of Akzo Nobel in the United States, reported lower-than-expected quarterly earnings this week, blaming higher raw material costs on Covid supply chain disruptions.

Image Source

Also read: Asian Paints Q1 FY22 profit doubles to Rs 574.30 crore

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..