Markets

Kansai Nerolac, Asian Paints, Berger Paints slip up to 6%

NEW DELHI: Shares of paint companies ended in the red on Monday after Kansai Nerolac Paints reported drop in profit for September quarter.

Share of the company plunged 6.31 per cent after it reported a fall of 15.65 per cent in profit at Rs 121.99 crore for quarter ended September 30. It had posted a net profit of Rs 144.63 crore in the corresponding quarter last year.

However, total income from operations increased by 10.97 per cent to Rs 1,307.87 crore for Q2FY19 compared with Rs 1,178.54 crore for the corresponding quarter previous year.

Also, Asian Paints slipped 3 per cent ahead of its financial results for September quarter. The scrip shed Rs 36.50 to close at Rs 1.201.45 on the BSE. Shalimar Paints and Berger Paints fell 2.65 per cent and 1.25 per cent, respectively.

The benchmark BSE Sensex closed 181.25 points down at 34,134.38.

Original Article

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