Berger Paints Profit Declines For Third Straight Quarter

Berger Paints India Ltd.’s standalone net profit fell for the third straight quarter in April-June quarter.

The paint maker’s net profit declined 7.9 percent year-on-year to Rs 105 crore. The revenue rose 8.8 percent to Rs 1,262.5 crore, compared to Rs 1,160.4 in the corresponding quarter in the previous financial year, according to the company’s exchange filing.

Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 5.3 percent year-on-year basis to Rs 176.7 crore. The profit margin contracted 260 basis points to 15.4 percent during the period.

Consolidated Q1 Earnings Report

• Profit declines 5.8 percent to Rs 113 crore
• Revenue up 9.4 percent at Rs 1,363.5 crore
• EBITDA down 5 percent at Rs 185 crore
• Margin contracted to 14.8 percent from 17.4 percent

Shares of Berger Paints fell as much as 2.9 percent, the most in over a week, to Rs 239.85 after the results were announced.