Paints and coatings maker Akzo Nobel India today reported a 18.34 per cent decline in net profit at Rs 44.64 crore for the fourth quarter ended March 31, 2015 on lower sales.
It had posted a net profit of Rs 54.67 crore in the corresponding quarter, a year ago, Akzo Nobel said in a BSE filing.
The company's net sales for the quarter under review went down by 3.91 per cent to Rs 577.76 crore compared with Rs 601.28 crore in the fourth quarter of 2013-2014.
Commenting on the results, Akzo Nobel India Managing Director Jayakumar Krishnaswamy said: "Akzo Nobel India has registered a 24 per cent growth in profit after tax for fiscal 2014-15, led by efficiency improvements, continued focus on costs and enriched sales mix, and relatively better input prices."
Akzo Nobel said its Board of Directors have recommended a dividend of Rs 20 per equity share for the year ended March 31, 2015.
For the fiscal 2014-15, Akzo Nobel's net profit stood at Rs 186.31 crore as against net profit of Rs 150.22 crore in the previous fiscal.
Net sales during fiscal 2014-15 were at Rs 2,469.79 crore as against Rs 2,371.71 crore a year ago.
Shares of Akzo Nobel India closed at Rs 1,426.65 apiece on BSE, up 1.64 per cent from their previous close.
