The paint maker had recorded a net profit of Rs 219.21 crore in the same period last year.

Total income from operations jumped by 20% YoY to Rs 2,670.92 crore during the period under review.

Material cost rose by 26% YoY, employee cost increased by 13% YoY and other expenses were higher by 17% YoY in the second quarter.

EBITDA (excluding other income) for the quarter ended 30 September 2022 was Rs 363.95 crore as against Rs 353.99 crore in the corresponding quarter last year, representing an increase of 2.81%.

Finance costs amounted to Rs 24.12 crore, up 90% YoY.

Profit before tax in Q2 FY23 stood at Rs 293 crore, down by 1.8% from Rs 298.39 crore in Q2 FY22. Tax outgo during the period under review was Rs 73.49 crore (down 7% YoY).

Berger Paints said that BJN Nepal had a good quarter of performance both on the topline and profitability. The company's Polish subsidiary Bolix S.A had degrowth both in topline and profitability impacted by Ukraine war and high inflation negatively impacting the consolidated numbers.

STP Ltd showed strong double-digit growth on sales and profits during the year aided by improvement in gross margin. SBL Speciality Coatings Ltd had a flat topline growth and muted profit growth effected by the downturn in fan industry.

The company's Joint venture's Berger Nippon Paint Automotive Coatings and Berger Becker Coatings, both registered strong performance on topline and profitability aided by product price increases.

In its outlook, the paint maker said: “Demand in urban markets looks encouraging. Hoping for an uptick in rural demand on the back of good monsoon.

Mix improvement likely in the coming quarters supported by increased sale of exterior coatings. Industrial sales outlook remain strong on the back of growth in auto sector and government spending in infrastructure.”

It further added: “Key raw material prices like Monomers and Solvents softened towards the end of Q2 and likely to remain so in Q3 and Q4. However, exchange depreciation on account of strong USD may be a concern.”

Berger Paints India is engaged in retail, decorative and industrial painting solutions.

The scrip rose 1.37% to currently trade at Rs 591.45 on the BSE.

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Net profit of Berger Paints India rose 0.23% to Rs 219.36 crore in the quarter ended September 2022 as against Rs 218.85 crore during the previous quarter ended September 2021. Sales rose 20.04% to Rs 2670.92 crore in the quarter ended September 2022 as against Rs 2225.01 crore during the previous quarter ended September 2021.

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Berger Paints India will hold a meeting of the Board of Directors of the Company on 10 November 2022.

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Revenue from operations for the quarter ended 30 June 2022 was Rs 2,759.70 crore as against Rs 1,798.49 crore in the corresponding quarter of the last year, representing an increase of 53.44% over the corresponding quarter of last year.

Total expenses increased by 49.8% to Rs 2,433.92 crore in Q1 FY23 over Q1 FY22.

EBIDTA improved by 69.72% to Rs 404.84 crore in Q1 FY23 from Rs 238.53 crore in Q1 FY22.

Profit before tax in the first quarter stood at Rs 342.29 crore, up by 79.8% from Rs 190.32 crore recorded in the same period last year.

Berger Paints India is engaged in retail, decorative and industrial painting solutions.

The scrip advanced 0.57% to currently trade at Rs 670.70 on the BSE.

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