Berger Paints Falls Over 4% Even After Profit More Than Doubles In March Quarter

Share price of Berger Paints declined more than four per cent on Thursday, May 27, a day after the multinational paint company announced its January-March quarter results for the financial year 2020-21. On Thursday, Berger Paints opened on the BSE at Rs 838.95, swinging to an intra day high of Rs 838.95 and an intra day low of Rs 787, in the trading session so far. According to a regulatory filing by the firm to the stock exchanges, Berger Paints reported a net profit of Rs 208.60 crore on a consolidated basis in the January-March quarter.

The company's net profit in the fourth quarter of the fiscal year 2020-21, more than doubled on account of higher revenue from operations. According to the statement, Berger Paints reported a net profit of Rs 103.18 crore in the year-ago period.

Berger Paint's revenue from operations stood at Rs 2,026.09 crore in the March quarter, compared to Rs 1,354.84 crore in the corresponding quarter of the previous fiscal. The company's board of directors recommended for the payment of a dividend of Rs 2.80, or 280 per cent, per equity share of the face value of Re 1 each, fully paid-up for the financial year 2020-21, upon approval of the shareholders.

On the NSE, Berger Paints opened at Rs 832.35, registering an intra day high of Rs 833, and an intra day low of Rs 786.15, in the session so far. It was last trading 4.14 per cent lower at Rs 797.90 on the NSE.

Shares of Berger Paints were last trading 4.11 per cent lower at Rs 797.85 on the BSE.