Akzo Nobel Q1 net up 54.71% at Rs 67.98 crore

NEW DELHI: Paints and coatings maker Akzo Nobel India today reported a 54.71 per cent increase in its net profit for the first quarter ended June 30, 2011 at Rs 67.98 crore.

For the same quarter of last fiscal, the company's net profit was Rs 43.94 crore, it said in a filing to the Bombay Stock Exchange.

The company's net sales for the quarter under review increased by 19.81 per cent to Rs 338.66 crore, compared to Rs 282.65 crore in the first quarter of 2010-2011.

Scrips of the company were trading at Rs 955.80 per share, up 6.17 per cent from previous close on the BSE.

Akzo Nobel India (previously known as ICI India) manufactures and markets paints (Dulux brand), speciality chemicals and starch.