Raw material inflation and lower other income took their toll on India's second largest paint company, Kansai Nerolac Paints as it posted a decline in profit after tax (PAT) of 7 per cent to Rs 30.19 crore
The company declared gross sales of Rs.432.55 crore, an increase of 11.6 per cent as compared to Rs 387.70 crore in the previous period while the Profit Before Tax (PBT) decreased by 5.8 per cent to Rs.42.85 crore.
H. M. Bharuka, managing director, Kansai Nerolac Paints said “Increase in oil price, freight cost and other inflationary pressures affected our profits of this quarter. Decorative continues to support top Line, while industrial business remains affected due to low growth in the automobile industry."
