Shares of Berger Paints on Thursday slipped over 4 percent in NSE  even after the company reported high net profit in Q4. The stock was quoting at Rs798.40 per unit as compared to the previous close of Rs. 832.35 In comparison, the NSE Nifty stood at 15303 up by 2 points during the morning session.

Berger Paints said its consolidated net profit for quarter ended March increased by 102 percent to Rs 209 crore as against Rs 103 crore in the corresponding quarter of the previous financial year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 61 percent to Rs 336 crore as against Rs 208 crore in Q4 FY20.

Revenue from operations in Q4 FY21 totalled Rs 2,026 crore as compared to Rs 1,355 crore in the same quarter of last fiscal, marking an increase of 49.5 percent. For the entire fiscal year ended March 2021, net profit was Rs 720 crore as against Rs 656 crore in FY20, up 9.7 percent. EBIDTA increased by 12 percent to Rs 1,188 crore from Rs 1,061 crore. Revenue from operations rose by 7.1 percent to Rs 6,818 crore from Rs 6,366 crore in FY20. The board has recommended a dividend of Rs 2.80 per equity share of Re 1 each for the financial year ended March 31, it said. Berger Paints is the second largest paint company in India with 16 manufacturing units.

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