Nerolac Paints Q3 net up 17.1%

New Delhi, Jan 21 (UNI) Country's second largest paint company Kansai Nerolac Paints Ltd today said its net profit has increased 17.1 per cent at Rs 30.24 crore for the quarter ended December 31, 2007 as compared to Rs 25.82 crore during the corresponding quarter of the previous year.

The net sales stood at Rs 345.39 crore for Q3 FY 2007-08 as against Rs 322.56 crore in the corresponding period a year ago, registering an increased of 7.1 per cent.

Net profit for nine months ended December 31, 2007, also increased by 13.6 per cent to Rs 95.83 crore as against Rs 84.36 crore in the corresponding period of the previous year.

The net sales for nine months ended on December 31, 2007, also witnessed a hike of 7.9 per cent to Rs 1,011.34 crore as against Rs 937.17 crore for the same period during the previous year.

''We are concerned about the negative growth in automobile sector and rising crude oil prices. In architectural, however, we have done well. Inspite of the rising cost pressures, we have even grown on profits,'' said company Managing Director H M Bharuka.

We will continue to focus on our research, technology in developing new colours, shades, finishes and products, keep abreast of all the latest trends in the sector, he added.

UNI SR MP RK2040