Akzo Nobel India Q3 net at Rs 38.4 cr
The maker of Dulux paints had posted a net profit of Rs 30.27 in the October-December quarter last fiscal, the Akzo Nobel said in a statement.
By PTI |
MUMBAI: Paint manufacturer Akzo Nobel India Limited (formerly ICI India Limited), on Friday reported a net profit of Rs 38.4 crore for the third quarter ended December 31.
The maker of Dulux paints had posted a net profit of Rs 30.27 in the October-December quarter last fiscal, the company said in a statement.
However, the third quarter results of the 2010 fiscal are not comparable with the corresponding quarter of 2009 fiscal as the period saw the divestment of company's National Starch Business, which had a turnover of Rs 9.8 crore in the year 2009-10, the statement added.
Net sales of Akzo Nobel in the December quarter stood at Rs 299 crore. The company had witnessed net sales of Rs 245.94 crore in the year-ago period.
Commenting on the earnings, Akzo Nobel India MD Amit Jain said, "The cost push owing to raw material prices remains a concern. Setting the cost pressures aside, the decorative paints segment looks promising with robust volume growth."
Meanwhile, two-wheeler giant Hero Honda today said that the company will report its results for the October-December quarter on February 2.
"A meeting of the Board of Directors of the Company will be held on February 02, 2011, to consider and approve the unaudited financial results for the third quarter and nine months ended December 31, 2010," Hero Honda said in a filing to the Bombay Stock Exchange.
Shares of Hero Honda closed at Rs 1,750, down 1.25 per cent from previous close on BSE.
The maker of Dulux paints had posted a net profit of Rs 30.27 in the October-December quarter last fiscal, the company said in a statement.
However, the third quarter results of the 2010 fiscal are not comparable with the corresponding quarter of 2009 fiscal as the period saw the divestment of company's National Starch Business, which had a turnover of Rs 9.8 crore in the year 2009-10, the statement added.
Net sales of Akzo Nobel in the December quarter stood at Rs 299 crore. The company had witnessed net sales of Rs 245.94 crore in the year-ago period.
Commenting on the earnings, Akzo Nobel India MD Amit Jain said, "The cost push owing to raw material prices remains a concern. Setting the cost pressures aside, the decorative paints segment looks promising with robust volume growth."
Meanwhile, two-wheeler giant Hero Honda today said that the company will report its results for the October-December quarter on February 2.
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"A meeting of the Board of Directors of the Company will be held on February 02, 2011, to consider and approve the unaudited financial results for the third quarter and nine months ended December 31, 2010," Hero Honda said in a filing to the Bombay Stock Exchange.
Shares of Hero Honda closed at Rs 1,750, down 1.25 per cent from previous close on BSE.
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