Paint manufacturer Akzo Nobel India Limited (formerly ICI India Limited), today reported a net profit of Rs 38.4 crore for the third quarter ended December 31.
The maker of Dulux paints had posted a net profit of Rs 30.27 in the October-December quarter last fiscal, the company said in a statement.
However, the third quarter results of the 2010 fiscal are not comparable with the corresponding quarter of 2009 fiscal as the period saw the divestment of company's National Starch Business, which had a turnover of Rs 9.8 crore in the year 2009-10, the statement added.
Net sales of Akzo Nobel in the December quarter stood at Rs 299 crore. The company had witnessed net sales of Rs 245.94 crore in the year-ago period.
Commenting on the earnings, Akzo Nobel India MD Amit Jain said, "The cost push owing to raw material prices remains a concern. Setting the cost pressures aside, the decorative paints segment looks promising with robust volume growth."
