Akzo Nobel India Q2 Profit Up 4%, Revenue Rises 2.7% | Dulux Paints

New Delhi, Nov 7 (PTI) Paints and coatings maker Akzo Nobel India Ltd on Thursday reported a 4 per cent rise in its consolidated net profit to Rs 97.9 crore for the second quarter ended September 2024, helped by volume growth and strong performance in B2B vertical.

The company had posted a net profit of Rs 94.2 crore in the July-September quarter a year ago, according to a regulatory filing from Akzo Nobel.

Its revenue from operations increased 2.71 per cent to Rs 982.3 crore during the quarter under review. It was Rs 956.3 crore in the corresponding period of the previous fiscal.

The total expenses of Akzo Nobel, maker of Dulux paints, rose 2.54 per cent to Rs 859.6 crore in the September quarter.

It has an impact of rising RMC on gross margins, though profitability was protected by balancing growth and OPEX, according to earnings presentation by the company.

Akzo Nobel's total income, which includes other income, for the September quarter, rose 2.71 per cent to Rs 991.4 crore.

Its Chairman and Managing Director, Rajiv Rajgopal said: "In Q2 FY25, we continued to deliver volume growth while maintaining profitability".

The topline growth was led by strong B2B performance across paints and coatings, he added.

"While there has been an increase in raw material costs, we invested in growth and protected our double-digit profitability by optimizing operational expenses," Rajgopal added.

The board of the company has approved an interim dividend of Rs 70 per share for FY25.

Shares of Akzo Nobel India Ltd settled at Rs 4,180.45 per scrip on Thursday, down 1.03 per cent.