Akzo Nobel India, a leading player in the paints and coatings industry, has reported a 3.93% increase in its net consolidated profit for the quarter ended September 30, 2024. According to the company’s filing with the Bombay Stock Exchange (BSE), the profit after tax stood at ?97.90 crore in Q2 FY25, up from ?94.20 crore in the corresponding quarter last year.
The company's total consolidated income also grew during the same period. Akzo Nobel recorded ?991.40 crore in total income for the second quarter of FY25, marking a 2.71% rise from ?965.20 crore in Q2 FY24.
Rajiv Rajgopal, Chairman and Managing Director of Akzo Nobel India, highlighted that the company's topline growth was primarily driven by strong B2B performance across its paints and coatings segments. He acknowledged the challenges posed by rising raw material costs but emphasized that the company had invested in growth and sustained its double-digit profitability through operational efficiency.
“We saw a healthy performance in our B2B segments despite the inflationary pressures on raw materials. We focused on optimizing operational expenses, which helped us protect our profitability,” Rajgopal said.
The company continues to navigate market fluctuations by leveraging its expertise in paints and coatings while managing cost pressures. With ongoing investments in growth initiatives, Akzo Nobel India aims to sustain its momentum in the coming quarters.
Akzo Nobel is well-known for its diverse range of products, catering to both consumer and industrial sectors. Its focus on sustainability, innovation, and expansion in high-growth markets has positioned it as a key player in the industry.
Outlook and Future Plans Looking ahead, Akzo Nobel India remains committed to further strengthening its market position, with Rajgopal expressing confidence in the company's long-term growth prospects. The focus on B2B segments, combined with continued innovation in paints and coatings, is expected to drive future performance, despite challenges like increasing raw material costs and fluctuating market demands.
With a track record of profitability and consistent revenue growth, the company is likely to maintain its leadership in the Indian market, supported by its operational strategy and ability to adapt to changing industry dynamics.