Paints and coatings maker Akzo Nobel India today reported a 18.45 per cent rise in standalone net profit at Rs 41.59 crore for the second quarter ended September 30, on growth in brands and strong cost management.
It had posted net profit of Rs 35.11 crore during the same quarter a year ago, Akzo Nobel said in a BSE filing.
Company's total income from operation for the quarter under review was up 6.94 per cent to Rs 760.69 crore as against Rs 711.29 crore of the corresponding quarter a year ago.
Commenting on the results, Akzo Nobel India MD Jayakumar Krishnaswamy said: "This quarter Akzo Nobel India delivered a double digit growth in volume and 28 per cent growth in operating profit continuing its growth momentum."
"The company's robust performance has been driven by innovation through growing brands, strong cost management and focus on sustainable operations," the MD said.
Its total expenses were up 5.54 per cent to Rs 704.67 crore during the quarter under review as against Rs 667.65 crore in the year-ago period.
In the first half of the ongoing fiscal, Akzo Nobel's net profit increased 29.30 per cent to Rs 105.85 crore as against Rs 81.86 crore in the six-month period a year ago.
Its total income on consolidated basis in first half of the current fiscal gained 8.02 per cent to Rs 1,539.84 crore as against Rs 1,425.44 crore in the same period last year.
Shares of Akzo Nobel today settled 2.03 per cent up at Rs 1,697.00 apiece on BSE.
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