Kansai Nerolac falls 6% on disappointing March quarter results

The company expects the growth momentum to be subdued for the immediate future though it is hopeful for a good momentum for the year as a whole

Shares of Kansai Nerolac Paints slipped 6 per cent to Rs 395 on the National Stock Exchange (NSE) after the company reported 12 per cent decline in its net profit at Rs 93 crore in March quarter (Q4FY19), due to lower demand for industrial products. The company had a profit of Rs 106 crore in year-ago quarter.

Operational income during the quarter under review grew 4 per cent at Rs 1,142 crore against Rs 1,098 crore in the corresponding quarter of previous fiscal.

Analysts, on an average, had expected profit of Rs 113 crore on revenue of Rs