Berger Paints Q2 Profit Down 7.6% to Rs 270 Crore

Kolkata, Nov 5 (PTI) Coatings major Berger Paints India on Tuesday reported a 7.6 per cent decline in consolidated net profit to Rs 270 crore for the second quarter of the 2024-25 fiscal.

The company posted a net profit of Rs 292 crore in the same quarter of the last financial year.

In a stock exchange filing, the company said its revenue during the quarter under review was Rs 2,774 crore, a marginal growth of 0.3 per cent from Rs 2,767 crore in the corresponding quarter of FY'24.

EBITDA for the quarter stood at Rs 434 crore, down 8.3 per cent from Rs 473 crore in the year-ago period.

The company reported standalone volume growth of 3.6 per cent, which it said was impacted by an unusually extended monsoon and flooding in key markets like Andhra Pradesh, Kerala, West Bengal, Gujarat, and Maharashtra.

A price hike of about 2.3 per cent was implemented during the quarter, it said.

"Extended monsoons, adverse weather, and flooding in some key markets made this a tough quarter, although we saw strong traction towards the quarter's end. This resulted in an almost flat revenue performance and moderate single-digit volume growth," Berger Paints MD and CEO Abhijit Roy said.

"On the international front, our Polish operations continued to perform well. However, a one-time project set-off impacted profitability this quarter. Nepal remained challenging, but in October, Nepal registered double-digit revenue growth after nearly a year, and we anticipate a turnaround going forward," he added.