Berger Paints posts dull Q1FY25 show as net profit stays flat at Rs 354 crore

The company also announced the appointment of Rishma Kaur as the chairperson of the firm effective from August 13 this year

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Berger Paints on August 9 reported a marginal decline in net profit at Rs 353.56 crore in the first quarter of FY25, down 0.22 percent compared to Rs 354.35 crore in the corresponding period of the previous financial year, the company said in an exchange filing.

The net profit stood at Rs 222.1 crore in the March quarter, the filing showed.

The firm blamed recent Lok Sabha elections, weather and slowdown in some key markets for the tepid performance in the June quarter.

"This quarter was tough due to elections, inclement weather and slowdown in a few key markets. In spite of this we were able to deliver double digit volume growth and the highest market share gain in a single quarter,” Abhijit Roy, managing director & CEO of Berger Paints India.

The pain firm’s revenue from operations rose 2 percent to Rs 3,091.01 in the quarter under review from Rs 3,029.51 crore in the year-ago period, according to the filing. The revenue stood at Rs 2,520.28 crore in the previous quarter.

The shares of the company rose 2.3 percent to trade at Rs 531.55 on NSE at closing bell on August 9.

Roy further added that, “Though we did well on the volume growth front, the value sales were lower due to the impact of the price drop taken in the prior quarters and stronger sale seen in the high volume, low value products in the waterproofing and construction chemicals category.

The firm is optimistic on the demand scenario for the year ahead, Roy said.

Meanwhile, the company also announced the appointment of Rishma Kaur as the chairperson of the firm starting from August 13 this year. Kanwardip Singh Dhingra was appointed as vice chairman of with effect from August 13, while Kuldip Singh Dhingra and Gurbachan Singh Dhingra will continue on the board as non-executive directors designated chairman emeritus and vice chairman emeritus respectively with effect from August 13, the company statement said.