- PPG partners with Prague Crafts Academy to train the next generation of painters
- Offshore wind farm Hollandse Kust Zuid inaugurated
- UPM selects Brenntag as sole European distributor of its new bio-based MEG
- PPG partners with Dutch university to develop world’s first off-road solar car
- Philippine lead paint ban feted in Bonn, Germany
Total income for the quarter was INR5113M (US$92.6M), INR3015M (US$54.6M) yr-on-yr, a growth of 70%. Earnings from operations were INR263M (US$4.7M). INR171M (US$3M) yr-on-yr, a growth of 54%. Raw material cost increases of 13% and currency depreciation have impacted operating margin. Other Income for Q2 at INS273M (US$4.9M) has increased by INR119M (US$2.1M) due to staggered maturity of investments. Profit after tax (PAT) for Q2 was INR448M (US$8M) against INR263M (US$4.7M) yr-on-yr.
Amit Jain, MD, Akzo Nobel India said: "All Coatings and Chemical business segments continue to demonstrate robust growth propelled by new product innovations and capacity additions. Due to uncertain market conditions, our businesses have taken appropriate measures on containing costs to protect margins.”