announced on Thursday that it plans to implement cost-efficiency measures and raise prices in November to safeguard its margins against and rising raw material expenses.
Although a steep increase in during the quarter hindered , the paint manufacturer still achieved a 5.2% rise in , driven by robust volumes in its international, construction chemical, and industrial divisions.
Also read: Key details include:
- Consolidated net profit for the quarter ended September 30 climbed to 2.17 billion rupees ($22.96 million), up from 2.06 billion rupees during the same period last year.
- Revenue from operations grew 13.2% year-on-year, reaching 32 billion rupees.
- Expenses surged 14.1%, outstripping revenue growth, driven by a 25.6% jump in raw material costs.
- Near-term are expected to persist due to forex volatility, , and disruptions in raw material pricing and supply, according to the company.
Paint manufacturers continue to deal with unpredictable prices for crude-linked raw materials, which serve as a critical input for production.
Despite implementing significant price increases, Berger's industrial segment recorded high double-digit volume growth, though its margins continued to face downward pressure.