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The current quarter’s performance is not directly comparable with the corresponding quarter of the last financial year since the current quarter reflects the performance of the recently merged company.
Net sales for Q3 were IR5941M (IR3688M yr-on-yr); a growth of 61%. Earnings from operations were IR401M (IR210M); a growth of 90%. Other income for the quarter was IR241M against IR155M yr-on-yr, due to staggered maturity of investments.
Profit after tax (PAT) for Q3 was IR506M (IR293M yr-on-yr); an increase of 73%.
Amit Jain, Managing Director, Akzo Nobel India said: "Innovative and value-added products launched across coatings segments during the quarter helped drive revenue and margin growth. Earnings from operations grew ahead of revenue due to the operational efficiency initiative, which is being implemented in key business units.”