Kansai Nerolac Paints Limited experienced a slight setback as its shares dropped by nearly 1%, reaching ₹311.95, subsequent to the release of its consolidated financial results for the period ending September 30, 2023.
In the second quarter of the fiscal year 2024, the company reported a total income of Rs. 1978.56 crores, indicating a decline from Rs. 2174 crores reported in the previous quarter ending June 30, 2023.
Furthermore, Kansai Nerolac Paints recorded a net profit of Rs. 177.15 crores for the quarter ending September 30, 2023, in contrast to a net profit of Rs. 738 crores reported for the quarter ending June 30, 2023.
This financial update contributed to the minor dip in the company’s stock value.
