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AkzoNobel India net profit rises 34 pc to Rs 36.7 crore in Sept quarter

Kumar Rahul

New Delhi, Nov 8 (PTI) Paints and coatings maker AkzoNobel India Ltd on Friday reported a 34.01 per cent increase in consolidated net profit to Rs 49.25 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 36.75 crore in the July-September quarter a year ago, AkzoNobel India said in a filing to the BSE.

However, its total income from operations was down 11.27 per cent to Rs 640.50 crore during the September 2019 quarter, against Rs 721.88 crore in the corresponding quarter of the previous financial year.

AkzoNobel India Managing Director Rajiv Rajgopal said, 'As we restructure our product portfolio and take actions to improve our mix, we have seen a continued positive impact on our gross margins and profitability.' 'This quarter has seen headwinds in some sectors, mainly automotive. Our waterproofing range was enhanced with the launch of Dulux Aquatech Roof and Interior Basecoat,' he said.

AkzoNobel's total expenes was Rs 584.19 crore during the quarter as against Rs 664.37 crore a year ago, down 12.06 per cent.

Shares of AkzoNobel India Ltd on Friday settled at Rs 2,154.90 apiece on the BSE, down 1.52 per cent. PTI KRH HRS