Kansai Nerolac Paints's net profit tanks 80% to Rs 29 cr for Q1FY21

New Delhi: Kansai Nerolac Paints Ltd’s consolidated net profit tanked 80 percent to Rs 29 crore for the first quarter of the current fiscal as compared to Rs 144 crore in the corresponding quarter of the previous fiscal.

The consolidated revenues from operations of the company fell 59 percent to Rs 638 crore for the first quarter of the current fiscal as compared to Rs 144 crore in the corresponding quarter of the previous fiscal.

The consolidated total expnses of the company fell to Rs 605 crore for the first quarter of the current fiscal as compared to Rs 1,326 crore in the corresponding quarter of the previous fiscal, the company said in a  regulatory filing.

The EBIDTA declined 68 percent to Rs 81 crore for the first quarter of the current fiscal. The fall in EBITDA was contained to merely 350 basis points, the company said.

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