Berger Paints India fell 2.67% to Rs 260.70 at 12:01 IST on BSE after consolidated net profit fell 19.77% to Rs 111.34 crore on 11.79% increase in net sales to Rs 1281.71 crore in Q2 September 2017 over Q2 September 2016.
The result was announced after market hours yesterday, 2 November 2017.Meanwhile, the S&P BSE Sensex was up 57.68 points, or 0.17% to 33,630.90.
On the BSE, 77,000 shares were traded in the counter so far, compared with average daily volumes of 96,178 shares in the past one quarter. The stock had hit a high of Rs 270.05 and a low of Rs 257.75 so far during the day. The stock hit a record high of Rs 285.75 on 25 October 2017. The stock hit a 52-week low of Rs 178 on 22 November 2016.
The stock had underperformed the market over the past one month till 2 November 2017, rising 5.68% compared with 6% rise in the Sensex. The scrip had outperformed the market in past one quarter, rising 10.73% as against Sensex's 3.86% rise. The scrip had underperformed the market in past one year, rising 2.88% as against Sensex's 22.39% rise.
The large-cap company has equity capital of Rs 97.10 crore. Face value per share is Re 1.
Berger Paints India said that its Q2 September 2017 net profit is not comparable with corresponding period of the previous year since the net profit in Q2 September 2016 included proportionate gain of Rs 44.20 crore on slump sale of the company's paint division relating to four-wheeler passenger cars, SUVs, three-wheelers and related ancillaries.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11.38% to Rs 199.13 crore in Q2 September 2017 over Q2 September 2016.
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Berger Paints India is the second largest paint company in the country.
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