Berger Paints India Ltd Q2 net profit at Rs.23.6 Crores

The Board of Directors of Berger Paints India Limited approved the un-audited financial results for three months ended 30th September, 2006. at its meeting held on 24th October 2006.

The net sales during the second quarter grew by 22.3% from Rs.261.3 crores last year to Rs 319.7 crores this year. The net profit during the second quarter went up by ll.l% from Rs 21.2 crores in 2005-06 to Rs 23.6 crores in the corresponding period of 2006-07.

There was unprecedented increase in the prices of downstream petroleum products due to escalation in crude oil prices. This affected the Company’s profitability for the current period. However, the price increase of the Company’s products - carried out in September 2006 - will bring significant improvements and restore margins in the second half of the year.

The growth story for the paint industry is expected to continue due to all round economic development in the country.

Source : Equity Bulls

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