Akzo Nobel shines on best-ever quarter, shares up over 6%

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February 10, 2023
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The paint-maker’s consolidated net profit rose 16.2 percent year-on-year to Rs 97.4 crore in the December quarter

Shares of paint maker Akzo Nobel India inched higher in the morning trade on February 10 as the company posted its best-ever performance in the quarter ended December.

At 10.52 am, Akzo Nobel was trading 5.54 percent higher at Rs 2,345 on the National Stock Exchange.

The gains in the stock were also accompanied by strong volumes, which were sharply higher than the 20-day daily average.

The paint manufacturer managed to post strong growth on all three fronts. Its topline rose 8 percent year-on-year to Rs 986.8 crore, aided by a strong performance across the coatings verticals. The rise in topline came despite the relatively muted growth in the decorative paints business and an extended monsoon in October.

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