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Akzo Nobel Q1 results: Net profit falls 20.5% to ₹91 crore on weak demand
It had posted a consolidated net profit of ₹114.6 crore in the corresponding period last fiscal, Akzo Nobel India said in a regulatory filing.
Consolidated revenue from operations in the quarter under review stood at ₹995.1 crore as compared to ₹1,036.3 crore in the year-ago period, it added.
Total expenses in the April-June quarter were marginally lower at ₹881.6 crore against ₹891.7 crore in the same period a year ago, the company said.
The company, in which JSW Paints had agreed to buy a 74.76 per cent stake for ₹8,986 crore last month, followed by an open offer to buy another 25 per cent from the open market for up to ₹3,929.06 crore, said its board has approved a one-time special interim dividend of ₹156 per share.
Akzo Nobel India Chairman and Managing Director Rajiv Rajgopal said, "In Q1 of FY2025-26, our B2B segment continued its growth trajectory, while retail was subdued due to tepid consumer demand and heightened competition. Despite margin pressure, we sustained double-digit profitability and maintained investments in growth initiatives."
On the special interim dividend, he said, "Expressing gratitude to all our shareholders, the board is delighted to announce a one-time special interim dividend of ₹156 per share, inter alia, based on income on slump sale as previously approved by shareholders."
Shares of the company were trading 2.06 per cent higher at ₹3,712 apiece on the BSE.
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