Berger Paints looks red
By
Ruma Dubey
about 5 years ago
Q1 is seasonally one of the best for paint companies as summer is the time when houses get painted and then after monsoon, in Q3. Thanks to Covid, Q1 has been a washout and we can see that clearly in the earnings of Berger Paints.
It reported a 91% (YoY) drop in consolidated net profit at Rs.15 crore on a 46% drop in revenue from operations at Rs.931 crore.
EBITDA was down 70% at Rs.92 crore.
This is despite a 38% drop in total expenses and 68% lower tax outgo.
The stock opened with a 2.5% gap at Rs.536.20, going down further by over 4% to Rs.527.75 and currently figures among the top five losers on the BSE.