AkzoNobel’s net profit up by 87.85% for quarter-ending December 2014

Paints and coatings maker AkzoNobel India have reported an 87.85% jump in net profit, which stood at Rs 50.74-crore for the third quarter of the 2014-15 fiscal year.

02 Feb 2015 | By Mihir Joshi

The company had posted a net profit of Rs 27.01-crore for the corresponding quarter ended 31 December last year. Net sales of the company stood at Rs 671.41-crore up by 4.26% compared to Rs 643.93-crore for the same quarter last year. Expenses were down at Rs 619.5-crore against Rs 626.29-crore during the corresponding period last year.

Jayakumar Krishnaswamy, managing director, AkzoNobel India said, “AkzoNobel India’s improved business performance is led by both, a robust growth in sales of high-performance products as well as a continued focus on cost management, supplemented by soft input prices, especially the crude-linked ones.”

The company also announced the appointment of Kimsuka Narimhan, chief financial officer, PepsiCo India, as an independent director.