Berger Paints Q3 net profit jumps 49% to ₹300 Crore

7 Feb 2024 , 10:36 AM

For the third quarter of the current financial year, Berger Paints reported a 49% year-over-year growth in its consolidated net profit to ₹300.16 Crore on Tuesday.

The company reported in a regulatory filing that during the October-December quarter, revenue from operations increased by 7% to ₹2,881.83 Crore. When comparing the current period to the same quarter previous year, earnings before interest, taxes, depreciation, and amortisation (EBITDA), excluding other income, increased by 37.3% to ₹480 Crore.

Berger Paints MD & CEO Abhijit Roy stated, ‘The quarter witnessed robust increase in operating profits and strong growth on the volume front.’ According to him, the growth rates in tier 2 and tier 3 cities exceeded those in tier 1 cities.

The paint manufacturer persisted in its ‘aggressive growth’ inside the construction chemicals and waterproofing market. ‘To strengthen our product options in this market, new products were introduced in the sealants and roof waterproofing area. Auto and industrial divisions fared somewhat better as well. We strengthened our digital initiatives and added over 2300 retail touch points this quarter as part of our ongoing network expansion,’ he stated.

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