The Board of Directors of Akzo Nobel India Limited approved the unaudited financial results of the company for the (third) quarter ended December 31, 2012.
The current quarter’s performance is not directly comparable with the corresponding quarter of the last financial year since the current quarter reflects the performance of the recently merged company.
Unaudited Financial results - Performance Highlights
AKZO NOBEL INDIA LIMITED (Q3 FY 2012-13 as against Q3 FY 2011-12)
Net sales for the quarter is 5941mn rupees as against 3688mn rupees; a QoQ growth of 61%
Earnings from Operations at 401mn rupees as against 210mn rupees; a QoQ growth of 90%
Other Income for the quarter at 241mn rupees against 155mn rupees, due to staggered maturity of investments.
Profit after tax (PAT) for the quarter is 506mn rupees as against 293mn rupees; a QoQ increase of 73%.
Amit Jain, Managing Director, Akzo Nobel India:
“Innovative and value-added products launched across coatings segments during the quarter helped drive revenue and margin growth. Earnings from operations grew ahead of revenue due to the operational efficiency initiative which is being implemented in key business units.”
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.