Kansai Nerolac Paints Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 05, 2024 at 04:26 am EST
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Kansai Nerolac Paints Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 19,187.1 million compared to INR 18,268.1 million a year ago. Revenue was INR 19,388.4 million compared to INR 18,341.9 million a year ago. Net income was INR 1,542.6 million compared to INR 1,099.2 million a year ago. Basic earnings per share from continuing operations was INR 1.91 compared to INR 1.36 a year ago. Diluted earnings per share from continuing operations was INR 1.91 compared to INR 1.36 a year ago.
For the nine months, sales was INR 60,320.5 million compared to INR 58,091.4 million a year ago. Revenue was INR 60,914 million compared to INR 58,254.2 million a year ago. Net income was INR 10,694.1 million compared to INR 3,798.1 million a year ago. Basic earnings per share from continuing operations was INR 13.23 compared to INR 4.7 a year ago. Diluted earnings per share from continuing operations was INR 13.22 compared to INR 4.7 a year ago.
Kansai Nerolac Paints Limited is an India-based paint company. The Company is engaged in the manufacturing and supply of paints, varnishes, enamels or lacquers. It manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals, and hotels to industrial coatings for various industries. It offers a portfolio of industrial coatings, which covers a range of automotive coatings, powder coatings, performance coatings liquid (covering both general industrial and high-performance coating), and auto refinish solutions. Its automotive coatings solutions include monocoat metallics, high mar resistant clear coats and super durable monocoats. Its performance coatings liquid solutions include zinc rich coatings, heat resistant coatings and floor coatings. Its powder coatings solutions include heat resistance powder rebar coatings and pipe coating powders. The Company's auto refinish solutions include putty-NC, polyester and body fillers.