Berger Paints is trading higher by 3% at Rs 141 on reporting 19% jump in net profit at Rs 44 crore for the quarter ended June 2012, against Rs 37 crore in previous year quarter. Net sales grew 16% at Rs 803 crore on year-on-year basis.
Operating or EBDIT (earnings before depreciation, interest and tax) improved to 10.58% from 10.24% during the recently concluded quarter.
Meanwhile, the country’s second-largest paints company, is planning to double its capacity to 42,000 tonnes per month by the end of 2013 at an investment of Rs140 crore, the report suggests.
Besides acquiring additional capacity in India, the company will likely wrap up an overseas acquisition or technology collaboration, added report.
The stock opened at Rs 136 and touched a high of Rs 142 on the BSE. A total 60,000 shares have changed hands on the counter so far on both the exchanges.