Berger Paints India reported a significant rise in its net profit for the fourth quarter, with a 19.7% increase to Rs 222.62 crore compared to the same period last year. However, sequentially, the profit declined by 25.8%.
The company’s revenue for the March quarter saw a marginal rise to Rs 2,520.28 crore. For the full fiscal year, Berger Paints India reported a revenue of Rs 11,198.9 crore, marking a 6% increase from the previous year. In a notable announcement, Berger Paints declared a dividend of Rs 3.5 per equity share.
Despite the profit increase, the firm’s earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 4.8% to Rs 350.9 crore compared to the year-ago quarter. This drop highlights some challenges the company faced in managing operational costs.
Abhijit Roy, Managing Director and CEO of Berger Paints, expressed optimism about future demand. “We remain confident of an improved demand scenario in the upcoming year and have prepared for the same with the launch of multiple innovative new products in the paint, coatings, and waterproofing segments to ensure that we provide relevant solutions to the changing needs of our customers,” Roy said.
Roy also highlighted the company’s strong annual performance for FY24, emphasizing a stellar double-digit improvement in profitability. He noted that all business lines performed well, particularly the industrial segment, which saw significant volume growth and profitability improvements. The company’s robust performance and strategic product launches position it well to meet future market demands and continue its growth trajectory in the competitive paints and coatings industry.