Akzo Nobel India Limited

AkzoNobel India announces Q3 FY 2019-20 results

GurugramFeb 6th, 2020    

AkzoNobel India announces Q3 FY 2019-20 results

Akzo Nobel India, a leading Paints and Coatings company and makers of Dulux Paints, today at the Board meeting announced its unaudited financial results for the quarter ended December

31, 2019.

Performance Highlights

  • Q3 FY20 versus Q3 FY19
  • Revenue from operations at ₹727 crore, decline 7%
  • EBIT from operations at ₹96.8 crore, up 14%
  • Profit after tax at ₹76.9 crore up 27%

Commenting on the performance, Rajiv Rajgopal, Managing Director, Akzo Nobel India said, “Overall in the quarter, the industry saw muted growth because of sluggish demand and slowdown in automobile and real estate sectors. We continued to focus on profitability improvement on the back of improved mix and cost management.” “We’re proud that AkzoNobel’s coating technology has been applied on high-speed trains in India providing sheen, protection against corrosion as well as anti-scratch properties,” added Rajiv Rajgopal.

The third phase of the solar installation project in our Thane plant has been commissioned recently. Renewable energy usage is also steadily growing in all sites, which illustrates our commitment to reducing our environmental footprint.