 "Nerolac Paints Q1FY24 result: Consolidated net profit up 382% to Rs 734 cr")
The consolidated net profit of Kansai Nerolac Paints Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 382.7 per cent to Rs 734 crore, compared to Rs 152.05 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit was up 662.6 per cent. In Q4FY23, the net profit of the company was Rs 96.24 crore.
The revenue from operations for Q1FY24 came in at Rs 2,156.80 crore, compared to Rs 2,051.37 crore year-on-year (YoY). This is a rise of 5.13 per cent.
On a quarter-on-quarter (QoQ) basis, the revenue for operations was up 24.41 per cent. It was Rs 1,733.59 crore in Q4FY23.
The total income for Q1FY24 came in at Rs 2,174 crore, compared to Rs 2,056.20 crore YoY. This is a rise of 5.72 per cent.
On a QoQ basis, the total income was up 24.7 per cent. It was Rs 1,743.29 crore in Q4FY23.
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Kansai Nerolac Paints Limited stock was closed at Rs 321 on Thursday.
Anuj Jain, managing director, Kansai Nerolac Paints Ltd, said, “The quarter witnessed good demand for automotive and performance coating. The company continues to pursue various initiatives in the areas on feet-onstreet, digital, influencer outreach, new product launches, approvals, and projects.”