Kansai Nerolac paints sales up by 21 pc

New Delhi, May 7 (UNI) Kansai Nerolac Paints Ltd today registered 21.9 per cent jump in its sales at Rs 345.06 crore, in the quater ended March 2007, as compared to Rs 283.01 crore in the same period previous year.

The company's profit before tax in the said period stood at Rs 35.68 crore against Rs 31.06 crore in the same period previous year, registering a 14.9 per cent increase.

The gross sales stood at Rs 1483.86 crore, posting an increase of 21 per cent in comparison to Rs 1225.98 crore for the previous year.

Kansai Nerolac Paints Ltd's Managing Director H M Bharuka said, "It has been a year since we started working under the brand name Kansai Nerolac and we have had a favorable year with top line growing at 21 per cent. The growth this year is led by decorative business. The growth in industrial business has been lower and the cost could not be fully passed on to customers.

The company will invest in research and technology in developing new products, he added.

UNI