Indigo Paints Ltd. posted a 43% increase in profit in the third quarter of fiscal 2024.
Net profit came at Rs 37.6 crore in the October-December quarter, as compared with Rs 26.3 crore over the same period last year, according to the exchange filing.
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Indigo Paints Q3 FY24 (Consolidated, YoY)
Revenue up 25.77% at Rs 353.8 crore vs Rs 281.3 crore.
Ebitda up 53.2% at Rs 62.2 crore vs Rs 40.6 crore.
Margin at 17.58% vs 14.43%.
Net profit rises 42.96% to Rs 37.6 crore vs Rs 26.3 crore.
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Indigo Paints has grown by over 3-4 times the industry growth rate, indicating market share gain, the company said. The sales growth has been accompanied by robust growth in profitability as well, it said.
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Shares of Indigo Paints rose 0.78%, as compared with a 0.3% gain in the benchmark Nifty 50.
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