Berger Paints' Standalone Profit Jumps 51%

Kolkata-headquartered Berger Paints saw a 51% jump in standalone net profit to Rs. 110-crore for the quarter ending March 31, 2018. The company had in the corresponding quarter last fiscal reported a net profit of Rs. 73-crore. Revenue from operations (excluding excise duty) for Q4 FY18 stood at Rs. 1,195-crore, a 14% jump over the Rs. 1,047-crore it reported over the corresponding quarter in the last fiscal. For the full fiscal year, the company saw a near 3% year-on-year drop in net profit to Rs. 432-crore. Revenues stood at Rs. 4,705-crore.

Berger has said the financial results are not comparable to previous periods because of exceptional items and adjustments. Exceptional items for the fiscal include a profit of Rs. 87-crore on transfer of the company’s paint division relating to four-wheeler passenger cars and SUVs, three-wheelers and related ancillaries. Results also include impairment provision of Rs. 28-crore on carrying value of investments.