Akzo Nobel India Q4 net at Rs 78.24 crore
Akzo Nobel India today reported net profit of Rs 78.24 crore for the quarter ended March 31, 2012 on account of robust sales in all the verticals.
By PTI | Updated:
NEW DELHI: Paints and coatings firm Akzo Nobel India today reported net profit of Rs 78.24 crore for the quarter ended March 31, 2012 on account of robust sales in all the verticals.
The company had posted a net profit of Rs 57.82 crore for the quarter ended March 31, 2011 Akzo Nobel India said in a statement.
Total income of the company stood at Rs 971.75 crore for the quarter ended March 31, 2012. It was Rs 269.60 crore for the corresponding period last fiscal.
Net profit of the company for the year ended March 31, 2012 stood at Rs 201.78 crore. It was Rs 176.65 crore for the year ago period.
The company said that the results for the quarter and year ended March 31, 2012 are not comparable with corresponding previous periods due to merger of Akzo Nobel Car Refinishes India Private Ltd, Akzo Nobel Chemicals (India) Ltd, Akzo Nobel Coatings India Private Ltd with Akzo Nobel India Ltd with effect from 1 April 2011.
Commenting on the results Akzo Nobel India Chairman Nihal Kaviratne said: "We have successfully completed the process of amalgamating three other Akzo Nobel group companies in India with Akzo Nobel India Ltd thereby creating a larger base for growth."
Total income of the company stood at Rs 1,987.85 crore for the year ended March 31, 2012. It was Rs 1,096.82 crore for the year ago period.
Commenting on the mergers Akzo Nobel India Managing Director Amit Jain said: "The merger has given birth to a coatings and chemicals powerhouse."
The company said it plans to undertake a share buyback exercise at Rs 920 per share. It has also enhanced the dividend from Rs 18 per share to Rs 20 per share, it said. Shares of Akzo Nobel India today closed at Rs 863.25 on BSE, down 1.81 per cent from its previous close.
The company had posted a net profit of Rs 57.82 crore for the quarter ended March 31, 2011 Akzo Nobel India said in a statement.
Total income of the company stood at Rs 971.75 crore for the quarter ended March 31, 2012. It was Rs 269.60 crore for the corresponding period last fiscal.
Net profit of the company for the year ended March 31, 2012 stood at Rs 201.78 crore. It was Rs 176.65 crore for the year ago period.
The company said that the results for the quarter and year ended March 31, 2012 are not comparable with corresponding previous periods due to merger of Akzo Nobel Car Refinishes India Private Ltd, Akzo Nobel Chemicals (India) Ltd, Akzo Nobel Coatings India Private Ltd with Akzo Nobel India Ltd with effect from 1 April 2011.
Commenting on the results Akzo Nobel India Chairman Nihal Kaviratne said: "We have successfully completed the process of amalgamating three other Akzo Nobel group companies in India with Akzo Nobel India Ltd thereby creating a larger base for growth."
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Total income of the company stood at Rs 1,987.85 crore for the year ended March 31, 2012. It was Rs 1,096.82 crore for the year ago period.
Commenting on the mergers Akzo Nobel India Managing Director Amit Jain said: "The merger has given birth to a coatings and chemicals powerhouse."
The company said it plans to undertake a share buyback exercise at Rs 920 per share. It has also enhanced the dividend from Rs 18 per share to Rs 20 per share, it said. Shares of Akzo Nobel India today closed at Rs 863.25 on BSE, down 1.81 per cent from its previous close.
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