Kansai Nerolac Paints Q1 profit up 32.8 pc to Rs 126.50 cr

Kansai Nerolac Paints today reported an increase of 32.89 per cent in standalone net profit at Rs 126.50 crore for the first quarter ended on June 30, 2016.
The company had posted a net profit of Rs 95.19 crore in the April-June quarter a year ago.
Its net sales on standalone basis rose by 7.36 per cent to Rs 1,044.64 crore during the quarter under review, as against Rs 973.02 crore in the year-ago period, the company said in a BSE filing.
Commenting on the results, Kansai Nerolac Paints Managing Director H M Bharuka said: "Company has registered a double digit growth in Decorative. In Industrial, growth has been subdued. Lower commodity prices ensured that inflation was benign which has helped improve profitability".

Over the outlook, he said: "The good monsoon augurs well for demand and this along with pay hikes for government employees could see an improvement in the demand in the second half of the year."
Shares of Kansai Nerolac Paints today settled at Rs 340.90 on BSE, up 3.44 per cent from previous close.