Berger Paints Jumps Over 5% After Solid Q1 Numbers
At 10:48 am, the Berger Paints stock was trading at Rs 343.60, up 2.8%, on BSE after hitting a record high of Rs 351.65 earlier in the session.
Berger Paints India Ltd shares gained over 5% on Tuesday, i.e. 6 August, after the company reported better-than-expected numbers for the first quarter ended June (Q1).
At 10:48 am, the Berger Paints stock was trading at Rs 343.60, up 2.8%, on BSE after hitting a record high of Rs 351.65 earlier in the session. The stock has risen 8% in the last one year.
Berger Paints on Monday said its net profit jumped 32% to Rs 176.8 crore in the June quarter compared with Rs 133.9 crore in the same quarter a year ago. Revenue rose 15.7% to Rs 1,716.5 crore during the quarter compared with Rs 1,483 crore a year ago.
At the operating level, the company’s earnings before, interest, tax, depreciation and amortization (Ebitda) rose 27.5% to Rs 305.1 crore in the June quarter against Rs 239.3 crore a year ago. Ebitda margins also improved 170 basis points to 17.8% against 16.1% in the year-ago quarter.
Total expenses rose 13.28% year-on-year to Rs 1,467.48 crore in the June quarter from Rs 1,295.38 crore in the year-ago period.
Meanwhile, in a separate stock exchange filing, Berger Paints said it is considering investment opportunities in Russia and was also evaluating inorganic growth in the country. “However, no decision has yet been taken in this regard,” the company added. Berger currently operates in Russia through a step-down subsidiary which has been running in losses.
Berger Paints said it will also continue to pump capital into the domestic market. The company had earmarked Rs 200 crore in the current fiscal year toward modernisation of the existing units and greenfield units in India. The company has also planned to bring on-stream its colourant facility in Rishra, West Bengal, by December.
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