Operating Profit was at Rs 86 crore as compared to Rs 80 crore of the corresponding quarter of the previous year; a growth of 6%

Profit after tax (PAT) was at Rs 63 crore as compared to Rs 51 crore of the corresponding quarter of the previous year; a growth of 25%.

"The Board at its meeting today appointed Mr. Pradip Menon as the Chief FinancialOfficer and Wholetime Director of the Company with effect from 01 February 2016,subject to shareholder approval. We are delighted to have him on our team. Pradiphas over 20 years of experience in leadership positions in Finance, across variousbusiness lines and geographies."

"In a tough business environment, it is gratifying to report that the company hasposted a 25 percent growth in its Profit after tax for the third quarter of FY 2016 on the back of robust growth from most businesses."

"The announcement of ‘Monarch Gold' being Colour of the Year 2016 certainly reflectsAkzoNobel India's position as a trendsetter."

Performance for the quarter ended December2015

For quarter ended December2015,the overall top-line rose9% to Rs 748.07 crore compared to corresponding previous year period. Operating margins of the company fell30 bps to 11.4% as other expenses as a percentage of net sales (net of stock adjustment) rose 170 bps to 29.3e

Other income rose 26% to Rs 8.55 crore. Interest cost decreased by 17% to Rs 0.25 crore. Depreciation rose 5% to Rs 13.51 crore. PBT before EO rose 9% to Rs 80.34 crore.The company had an EO income of Rs 9.9 crore during the current quarter related to accounting adjustment in respect of the transfer of an industrial undertaking at Panki, Uttar Pradesh (The site related to Catalyst Business was divested by the company in 2002) compared to nil in the corresponding previous year quarter. PBT after EO rose 22% to Rs 90.24 crore. Considering 150 bps fall in effective tax rate to 29.9% net profit rose 25% to Rs 63.24 crore. The results also include the gains arising from transfer of beneficial interest in certainresidential apartments in Kolkata, which are surplus to the requirements of the company

Performance for nine months ended December 2015

For nine months ended December 2015,the overall top-line rose 7% to Rs 2062.98 crore compared to corresponding previous year period. However company operating margins rose 30 bps to 10.6% as cost of material consumed as a percentage of net sales (net of stock adjustment) fell 380 bps to 43.9% offset by110 bps increase in employee benefit expenses to 8.8% while other expenses increased 170 bps to 27.4% and purchase of stock in trade increased 50 bps to 8.9%. As a result operating profits grew 10% to Rs 219 crore.

Other income fell 40% to Rs 30.88 crore. Interest cost increased by 31% to Rs 0.92 crore. Depreciation rose 3% to Rs 40.23 crore. PBT before EO as a result fell 1% to Rs 208.73 crore. The company had an EO income of Rs 9.9 crore compared to Rs 2.67 crore in the corresponding previous year period. PBT after EO was up 2% to Rs 218.63 crore. Considering 210 bps fall in effective tax rate to 31.6% PATrose 6% to Rs 149.53 crore.  

The scrip closed Rs 1338 at BSE