Berger Paints Q3FY'24 net profit jumps 49% to Rs 300 crore

Berger Paints Q3FY'24 net profit jumps 49% to Rs 300 crore

Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year.

Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a regulatory filing. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year.

"The quarter witnessed strong growth on the volume front and robust increase in operating profits," Berger Paints MD & CEO Abhijit Roy said. The growth rates in tier 2 and tier 3 cities were higher than that of tier 1 cities, he said.

The paint maker continued with its "aggressive growth" in the waterproofing and construction chemicals segment. "New product introductions were made in the sealants and roof waterproofing category to fortify our product offerings in this segment. Industrial and auto divisions also did reasonably well. We continued to expand our network by adding more than 2300 retail touch points during this quarter and strengthening digital initiatives," he added.