Nerolac Paints Q2 net up 11.1 per cent

New Delhi, Oct 27: Paint manufacturer Kansai Nerolac Paints Ltd today said its net profit has increased by 11.1 per cent to Rs 33.12 crore in the quarter ended September 30, 2007 compared to Rs 29.80 crore during the same period last fiscal.

The company also registered an increase of 5.8 per cent in gross sales at Rs 425.57 crore in Q2 FY2007-08 against Rs 402.26 crore in the corresponding quarter during the previous year.

On half yearly basis, the net profit increased by 12 per cent to Rs 65.59 crores, over the corresponding period last year, while gross sales recorded a hike of 8.7 per cent to Rs 813.27 crores against Rs 747.90 crores during the same period in the previous year.

''The quarter has looked quite positive for decorative business with housing continuing to do well, while industrial has grown negatively on account of slow down in automotive industry. The current festive season promises to be good for our decorative business,'' the company said in a statement.

UNI