AkzoNobel India announces Q1, FY2015-16 results
Total revenue at ₹ 658 crore; up by 3%
Operating profit at ₹ 61 crore; up by 14%
Kolkata, August 14, 2015:
Today, the Board of Directors of AkzoNobel India Limited approved the unaudited financial results for the quarter ended June 30, 2015.
AkzoNobel India Limited (Q1 FY16 versus Q1 FY15)
- Total revenue at ₹658 crore as compared to ₹641 crore of the corresponding quarter of the previous year; a QoQ growth of 3%
- Operating Profit at ₹61 crore as compared to ₹53 crore of the corresponding quarter of the previous year; a QoQ growth of 14%
- Profit after tax (PAT) at ₹45 crore as compared to ₹55 crore of the corresponding quarter of the previous year; mainly due to reduction in investment income owing to a special divided payout
Jayakumar Krishnaswamy, Managing Director, Akzo Nobel India:
“Owing to continuous efforts towards improving efficiency and optimum utilisation of existing assets, the company has been able to consistently deliver and add value to our stakeholders. A healthy upswing in the operating profit is reflective of our constant pursuit of excellence and quality.
This year, AkzoNobel India completed 50 years of being listed with the Bombay Stock Exchange (BSE); a historic milestone achieved by the company.”
About AkzoNobel India:
Present in India for 60 years and a significant player in the paints industry. Over the years, it has witnessed sustained expansion, growth and transformation. In 2008, the Company became a member of the AkzoNobel Group.
AkzoNobel India manufactures and markets a wide range of coatings covering Decorative paints Protective coatings and Specialty Chemicals. We provide solutions to many industries and sectors including automotive, consumer electronics, power, aviation, shipping and leisure craft, construction, oil and gas, water and waste water, food and beverages, etc. We supply industries and consumer with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Interpon. Our employee strength is close to 1800.
AkzoNobel India has manufacturing sites, offices and distribution network spread across the country. All manufacturing facilities have state-of-art environmental management system. Its commitment to Health, Safety, Environment & Security (HSE&S) has been amongst the best in class globally, with due care being taken to protect the people and the environment.
Investor Relations, AkzoNobel India:
R Guha, firstname.lastname@example.org; +91-124-2540400
Country Communications, AkzoNobel India:
Joya Ahluwalia, email@example.com; +91-124-4852400
Safe Harbour Statement:
This press release may contain statements which address such key issues as Akzo Nobel’s growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ materially from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures.