Kansai Nerolac shares surge over 4% on better-than-expected Q1 results

By: | Updated: July 29, 2016 5:16 PM

Kansai Nerolac share price advanced over 4 per cent after it reported 32.89 per cent rise in net profit at Rs 126.50 crore for the quarter ended June 30, 2016 against Rs 95.19 crore in the corresponding quarter a year ago.

BSE Sensex NSE Nifty kansai nerolacKansai Nerolac share price advanced over 4 per cent after it reported 32.89 per cent rise in net profit at Rs 126.50 crore for the quarter ended June 30, 2016 against Rs 95.19 crore in the corresponding quarter a year ago.

Kansai Nerolac share price advanced over 4 per cent after it reported 32.89 per cent rise in net profit at Rs 126.50 crore for the quarter ended June 30, 2016 against Rs 95.19 crore in the corresponding quarter a year ago. Net total income from operations of the company increased by 20 per cent year-on-year to Rs 1047.05 crore as compared to Rs 975.31 crore in the same quarter last fiscal.

At 2.09 pm, shares of the company were trading 4.05 per cent up at Rs 342.90, The scrip opened the day at Rs 335.55 and has touched a high and low of Rs 345.15 and Rs 329, respectively, in trade so far. Later, the scrip ended 3.44 per cent up at Rs 340.90.

During April-June 2016, total expenses of Kansai Nerolac Paints jumped to Rs 877.52 crore against Rs 841.08 crore in the same period last year. Earnings per share jumped to Rs 2.35 as of June 30, 2016 from Rs 1.77 in the sequential quarter ended March 31, 2016.

ICICI Securities was expecting net profit of Rs 112.40 crore from Kansai Nerolac Paints.

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