Berger Paints net up 56%

Last Updated: Sun, Feb 03, 2013 05:32 hrs

Decorative paints major Berger Paints India reported a net profit of Rs 77 crore in the third quarter of the current financial year compared with Rs 49 crore in the corresponding period a year ago, registering a jump of 57 per cent.

Net sales grew 17 per cent at Rs 917 crore in the quarter against Rs 781 crore in the same quarter last year. MD & CEO Abhijit Roy said during the quarter subsidiaries in Nepal and Poland performed well, which helped post a stronger profit after tax.

"Being a decorative major, the softening of Rutile (key raw material) prices also helped substantially," he added.

Following the results, company's shares hit a new high on BSE at Rs 182.35 and settled at Rs 179.85 on the bourses.

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