 "paint painter jsw asian berger")
Berger Paints India reported a bigger-than-expected drop in second-quarter profit on Tuesday, as above-average rainfall and price hikes dampened demand.
The company's consolidated net profit fell 7.5% to Rs 270 crore (about $32 million) in the July-September quarter, lower than analysts' estimate of Rs 284 crore, per data compiled by LSEG.
Revenue from operations rose 0.3% to Rs 2,775 crore, lagging behind analysts' expectations of Rs 2,837 crore. KEY CONTEXT
Paint makers, including Berger, hiked prices by up to 2.5% in the second quarter as domestic competition intensified with Grasim Industries entering the sector earlier this year.
India also saw higher-than-normal rainfall, which lashed Berger's key markets including Andhra Pradesh, Kerala and West Bengal, resulting in flooding and lacklustre sales.
The company, India's second-largest paint maker by market capitalisation, is the first among its peers to report second-quarter results.
Kansai Nerolac, Akzo Nobel India and market leader Asian Paints are set to report results later this week.
 "paint painter jsw asian berger")
 "paint")
 "stock markets")
 "Abhijit Roy, Berger Paints MD")
 "Berger Paints")
