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Berger Paints Share Prices Fall Below 1% Post Q3 Profit

Representative Image

Representative Image

The shares of the company were trading in red at 12:16 pm. On the Bombay Stock Exchange (BSE), the stock prices were trading at Rs 756.90, down by 4.40 points or 0.58 percent. Similarly, on the National Stock Exchange (NSE), it was at Rs 757.50 after falling by 4.65 points or 0.61 percent.

The share price of Berger Paints India remained volatile on Wednesday, February 10, post the declaration of its Q3 results on Tuesday, February 9. The shares of the company were trading in red at 12:16 pm. On the Bombay Stock Exchange (BSE), the stock prices were trading at Rs 756.90, down by 4.40 points or 0.58 percent. Similarly, on the National Stock Exchange (NSE), it was at Rs 757.50 after falling by 4.65 points or 0.61 percent. However, in the morning session, the share price of the company was up over 3 percent.

The stock was trading in green at Rs 777.95, up by Rs 16.65 or 2.19 percent at 09:26 am on the BSE. Also, it has touched an intraday high of Rs 792.10 and an intraday low of Rs 746.20.

The paint maker on Tuesday reported a 51.2 percent hike in its consolidated net profit to Rs 274.98 crore for the quarter ended December 2020 compared to the net profit of Rs 181.9 crore in the October-December quarter in the previous year. It also posted a 25 percent rise in revenue from operations to Rs 2,118.2 crore during the quarter under review over Q3 FY20.

The profit before tax of the company jumped 50.6 percent to Rs 369.86 crore in Q3 FY21 compared to Rs 245.58 crore in Q3 FY20. Whereas, 49 percent rise was observed in the total tax expense which stood at Rs 94.88 crore in Q3 FY21 over Rs 1,695.9 crore in the corresponding period of the previous year.

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Also, the EBITDA (excluding other income) for the quarter ended 31 December 2020 stood at Rs 415 crore, witnessing a growth of 40.1 percent from Rs 296.30 crore in the quarter ended 31 December 2019.

Talking about the company, Berger Paints India Ltd was founded on December 17, 1923, and is engaged in retail, decorative and industrial painting solutions. It is a multinational paint company with 14 manufacturing units in India,two in Nepal and one each in Poland and Russia. Also, the company has a presence in five countries including India, Russia, Poland, Nepal and Bangladesh.