Berger Paints net profit jumps 55 per cent to Rs 120.30 crores


NEW DELHI: Berger Paints BSE consolidated net profit has increased 54.6 per cent to Rs 120.30 crore for the initial June quarter concluded. Corporation’s net profit in the first quarter (April-June) of former fiscal was at Rs 77.80 crore.  The corporation conveyed in a regulatory filing that, income from processes for the quarter concluded June 2016 was Rs 1,246.10 crore as next to Rs 1,126.30 crore in the equivalent quarter of the previous year, an augment of 10.6 per cent. 

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On standalone basis net profit increases by 37 per cent to Rs 114.20 crore.  Total income in the primary quarter of present fiscal recorded an expansion of 9.6 per cent to Rs 1,160.40 crore from Rs 1,058.70 crore in the similar period of proceeding financial.  Berger Paints conveyed that, the corporation has allotted 27,73,91,165 bonus shares of Re 1 each in proportion of 2 bonus shares for every 5 fully paid up equity shares to eligible shareholders on July 19, 2016. As a result of the bonus issue, the paid-up capital of the corporation augmented to Rs 97.09 crore from Rs 69.35 crore.

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It has also further conveyed in filing that, authorised capital of the corporation has been augmented to Rs 110 crore from Rs 75 crore. The corporation also knowledgeable that relocate of its paint division relating to four-wheeler passenger cars and SUV, three wheelers and related ancillaries to BNB Coatings India was completed after the close of business on June 30, in accordance with related business transport agreement.  Stock of the corporation was buying and selling 0.29 per cent up at Rs 240.65 on BSE.