AkzoNobel shares climb 5.5% post Q4 results

Shares of paints and coatings maker AkzoNobel India today rose by 5.5 per cent after the company reported an increase of 17.76 per cent in standalone net profit for the March quarter.
The stock ended the day with a gain of 4.61 per cent at Rs 1,427 on BSE. During the day, it climbed 5.56 per cent to Rs 1,440.
At NSE, shares of the company went up by 5.51 per cent to close at Rs 1,434.40.
The company added Rs 479.94 crore to Rs 6,843.94 crore in market valuation.
AkzoNobel India on Friday reported an increase of 17.76 per cent in standalone net profit at Rs 52.57 crore for the fourth quarter ended March 31, 2016.

It had posted a net profit of Rs 44.64 crore in the January-March quarter a year ago, AkzoNobel had said in a statement.

AkzoNobel's net sales during the quarter under review stood at Rs 662.45 crore, up 14.65 per cent, as against Rs 577.76 crore in the same period of the previous fiscal.
For financial year 2015-16, AkzoNobel reported a standalone net profit of Rs 202.10 crore, up 8.47 per cent, as against a net profit of Rs 186.31 crore in the previous fiscal.
In addition, the board has also recommended a special dividend of Rs 50 per share, which will be paid after the shareholders' approval.