Shares of Berger Paints India Ltd rose as much as 2 percent in early trade on Thursday, a day after the company reported a 1 percent decline in consolidated net profit at Rs 219.21 crore for September quarter 2021-22 impacted by high raw material cost and COVID-19.
At 9:54 am, shares of Berger Paints gave up initial gains and was trading flat at Rs 774.95, up 0.01 percent. The scrip has climbed 16.46 per cent in the last year till date, while the 30-share index has gained 48.94 per cent during the same period.
The paints and coatings company had posted a net profit of Rs 221.05 crore in the year-ago period, Berger said in a regulatory filing.
However, revenue from operations for the quarter was up by over 27.6 percent to Rs 2,225 crore from Rs 1,742 crore in the year-ago period. Total expenses were higher at Rs 1,939.59 crore as compared to Rs 1,471.97 crore in the second quarter last fiscal year, it added.
"The group's business operations during the half year ended September 30, 2021, and year ended March 31, 2021, were impacted due to COVID-19 pandemic and consequent lockdowns," the filing said.
First Published: Nov 11, 2021 10:06 AM IST
