Akzo Nobel India clocks net profit of Rs 76 cr for Q1FY22

Noida: Paint maker Akzo Nobel India clocked a consolidated net profit of Rs 76 crore for the first quarter of the current fiscal as compared a net loss of Rs 20 crore in the same quarter of the last fiscal. 

The revenue from operations of the company in the latest quarter stood at Rs 626 crore as compared to Rs 259 crore in the year-ago period, Akzo Nobel India said in regulatory filing.

"While the quarter started on a positive demand trajectory, May was impacted by COVID-19 related disruptions. As India started unlocking, Akzo Nobel delivered a robust recovery in June," AkzoNobel India Managing Director Rajiv Rajgopal said.

"The impact on margins due to the second COVID-19 wave, together with continued raw material inflation, was partially offset by pricing initiatives and cost discipline. Overall, we continued to navigate profitability in a tough operating environment and delivered double-digit return on sales," Rajgopal added.