Berger Paints Q2 Earnings Meet Estimates, Margins Stable
Berger Paints Ltd.’s earnings for the September ended quarter matched analyst estimates while margins remained stable.
Net profit fell 19.8 percent to Rs 111 crore compared to that a year ago, according to its exchange filing. This was in line with the Rs 119 crore estimated by analysts tracked by Bloomberg.
Revenue of the paint manufacturer rose 11.8 percent to Rs 1,282 crore on a year-on-year basis, also matching the Bloomberg consensus estimate of Rs 1,296 crore. The topline growth may have been aided by restocking of products at shops as the initial effects of the Goods and Services Tax rollout take a backseat, brokerages had said in reports published before the announcement of the results.
Earnings before interest, tax, depreciation and amortisation rose 11.4 percent to Rs 199 crore while margins remained stable to 15.5 percent compared to 15.6 percent in the comparable quarter. The margin too was higher than the Bloomberg consensus estimate of 15.1 percent.