Indigo Paints reported 8.06% rise in net profit to Rs 26.26 crore on a 5.95% increase in net revenue from operations to Rs 281.27 crore in Q3 FY23 over Q3 FY22.
EBIDTA (excluding other income) for the quarter ended 31 December 2022 was Rs 40.56 crore as against Rs 38.68 crore in the corresponding quarter of the last year, representing an increase of 4.86%.
Indigo Paints said that during the quarter, the growth was muted due to the delayed withdrawal of monsoons and early onset of the festive season in October.
The gross margins improved both sequentially (41.72% in Q2FY23) and YoY (42.89% in Q3 FY22) to an industry leading 43.82% in Q3 FY23. The EBITDA margin and PAT margin was largely flat at 14.42% and 9.21% respectively compared to the corresponding period of the previous year.
Indigo Paints offers a wide range of interior & exterior wall paint colours, enamels & wood coatings for homes & offices.
The scrip shed 0.27% to end at Rs 1161.50 on the BSE on Friday.
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