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27 Years
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Furniture-Furnishing Paints company Akzo Nobel India announced Q3FY24 & 9MFY24 results:
Q3FY24 vs Q3FY23:
- Revenue from operations: Rs 1,032.7 crore, up by 5%
- EBIT from operations: Rs 146.3 crore, up by 20%
- PAT: Rs 113.8 crore, up by 17%
9MFY24 vs 9MFY23:
- Revenue from operations: Rs 2,988.2 crore, up by 5%
- EBIT from operations: Rs 409.8 crore, up by 32%
- PAT: Rs 317.9 crore, up by 33%
Commenting on the performance, Rajiv Rajgopal, Chairman and Managing Director, Akzo Nobel India said, “We continued to build on profitable growth in Q3 and nine months of FY’24.
For the first time, our quarterly topline has surpassed the milestone of Rs 1,000 crore mark, led by double-digit growth in volumes. Our Coatings business and B2B segments sustained their robust growth trajectory. In the decorative paints business, retail saw strong volume growth in the quarter and saw margin improvements. While we continued to invest in our business and brands, our profitability was further strengthened due to raw material deflation and favourable mix coupled with operating leverage.”
“The Board of Akzo Nobel India remains committed to enhancing value for its shareholders. Hence, based on the performance in the nine months ended 31 December 2023, the Board is delighted to announce an interim dividend of Rs 50 per share for FY’24” said Rajiv Rajgopal, Chairman and Managing Director, Akzo Nobel India.
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