AkzoNobel India announces Q2 FY 2018-19 results

AkzoNobel India announces Q2 FY 2018-19 results
Today, the Board of Directors of Akzo Nobel India Limited approved the unaudited financial results for the quarter ended September 30, 2018.

Performance highlights
Q2 FY19 versus Q2 FY18
– Revenue from operations at ₹714 crores, up by 8%
– Profit before tax at ₹58 crores, up by 6%

However, net profit for the quarter at Rs 37 cr reflected a higher tax incidence compared to corresponding quarter of previous year, which included a tax refund, resulting in a decline of 5%.

Rajiv Rajgopal, Managing Director, AkzoNobel India:
– Margins were impacted by increase in raw material cost, depreciation of rupee and unfavourable sales mix.
– As a testimony to its CSR programme, AkzoNobel India won three awards at the prestigious Asia Best CSR Award 2018 by CMO Asia in the spheres of Education and Skill Development.