Date:29/10/2005 URL: http://www.thehindubusinessline.com/2005/10/29/stories/2005102903390203.htm

Back Goodlass Nerolac Q2 net up 4.5 pc at Rs 30.56 cr

Our Bureau

MUMBAI: GOODLASS Nerolac Paints Ltd (GNPL) reported a 4.5 per cent increase in second quarter net profits at Rs 30.56 crore against Rs 29.22 crore in the year-ago period.

Net sales grew by 13.7 per cent to Rs 263.54 crore against Rs 231.74 crore in the year-ago period.

Depreciation was high at Rs 7.65 crore (Rs 5.04 crore) on account of the commissioning of a new plant at Bawal, Haryana. Raw materials cost also rose to Rs 178.54 crore from Rs 151.96 crore in the year-ago period.

"With the economy expected to grow 7 per cent in FY 06, we are anticipating buoyant times ahead," the company said, quoting Mr H.M. Bharuka, Managing Director, Goodlass Nerolac.

Shares of Goodlass Nerolac dipped by Rs 8.35 to end at Rs 652 on the BSE.