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Our Bureau

Kolkata, Jan. 30 The net profit of Berger Paints India Ltd, in the third quarter of 2008-09, declined by over 35 per cent to Rs 14.96 crore from Rs 23.25 crore during the same period last year.

The company posted a marginal rise in net sales at Rs 358.25 crore in the quarter (Rs 354.38 crore). Total expenditure incurred by the company during the quarter was Rs 336.63 crore (Rs 324.37 crore). During the nine-month period of April-December its net sales stood at Rs 1,157.6 crore (Rs 1,005.1 crore). The profit after tax during the period was Rs 67.27 crore (Rs 68.15 crore).

While the operating environment was difficult in the third quarter, lower raw material prices, higher liquidity, lower interest rates, fair agricultural growth and a projected GDP growth at 7 per cent were expected to improve the outlook for the paint industry in the future, a release from the company stated. Paint consumption in India has been growing at 1.5 times the GDP growth, it added.

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