Berger Paints share climbs over 4% post Q2 earnings

Berger Paints share rose hit a fresh all-time high in early trade after the firm reported a 13.55 percent increase in its Q2 net profit. Share of Berger Paints gained 4.3% to Rs 675.45 against previous close of Rs 646.95 on BSE.

Berger Paints stock has risen 4.12% in the last 5 days. The stock opened with a gain of 2.28% at Rs 661.70.

Berger Paints India share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 31% in one year and risen 25.94% since the beginning of this year.

Total 1.10 lakh shares changed hands amounting to turnover of Rs 7.25 crore on BSE. Market cap of the firm stood at Rs 63,274 crore.

In Q2, net profit rose to Rs 221.05 crore against net profit of Rs 194.66 crore during the July-September quarter of the previous fiscal.

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Revenue climbed 9 percent to Rs 1,742.55 crore in Q2 against Rs 1,598.58 crore in the corresponding period of the previous fiscal.

Commenting on the impact of coronavirus pandemic on its operations, Berger Paints said, "The company's business operations during the previous quarter were impacted due to COVID-19 pandemic and consequent lockdowns.

The management has taken into account the possible impact of Covid-19 in preparation of the financial results, including assessment of recoverability of its assets based on the internal and external information up to the date of approval of the results.

The company will continue to monitor any material changes to future economic conditions."