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Berger Paints said its net profit for quarter climbed 39.9 per cent YoY to Rs 354.91 crore compared with Rs 253.71 crore in the corresponding quarter last year.
Standalone Q1 profit growth was reported at 39% aided by favourable raw material costs and operational efficiencies. The profit after tax (PAT) for the April-June quarter stood at Rs 326 crore versus Rs 234 crore in Q1FY23. Standalone Q1 net sales at Rs 2740 crore, up 10%, with high double-digit volume growth led by a healthy uptick across urban and rural markets, the exchange filing said.
Berger Paints Q1 Results: The company said its board has approved the issue of one bonus equity share of face value of Re 1 each against 5 equity shares of the face value of Re 1 each, subject to shareholders approval.
A company issues bonus shares to their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make it affordable for investors.