Ramco Cements Q1 Net up 57% at Rs 156 cr

Berger Paints has reported an increase of 54.6 per cent in consolidated net profit at Rs 120.30 crore for the first quarter ended June.

On standalone basis, the company’s net profit stood at Rs 114.23 crore, witnessing growth of 37.18% yoy and 20.14% qoq.

The company had posted a consolidated net profit of Rs 75 crore in the same period last fiscal, Berger Paints said in a statement.

At NSE, shares of the company settled at Rs 414.75, down 2.05 per cent.

It has also accounted for provision on standard assets as per Reserve Bank of India guidelines, requiring an increased provision on standard assets, the company said.

Ramco said it has reduced the borrowings by around Rs 312 crore out of internal accruals and reduction in working capital during the quarter under review.

The company’s total income decreased by 16.21% to Rs 2617.63 crore for the quarter under review from Rs 3124.15 crore for the corresponding quarter of the previous year.

At 10:41 am, shares of the company were trading at Rs 168.35 apiece, down 1.81 per cent from the previous close on Bombay Stock Exchange (BSE).