Akzo Nobel India reported a 4.3% increase in its first-quarter profit, driven by heightened demand for its paint products in June ahead of the monsoon season.
The company, known for its Dulux Paints, saw its consolidated net profit rise to 1.15 billion rupees ($13.74 million) for the quarter ending June 30, up from 1.1 billion rupees the previous year.
While Indian paint manufacturers have benefited from growing real estate and automotive sales, competitive price cuts to attract customers have impacted their revenue. Akzo Nobel India noted double-digit volume growth in its business-to-business segment during the quarter but did not provide further details.
However, the company said it is undertaking pricing actions โwithout losing competitivenessโ on account of rising raw material costs in second half of the fiscal year.
