Berger Paints' net profit grows 19% in Q1 FY19

Berger Paints reported a growth of 19% in its net profit during the quarter ending June 2018. Its profit after tax (PAT) stood at Rs 134.88 crore as against Rs 112.88 crore it reported in the similar quarter previous year. The company's net income stood at Rs 1,499.44 crore as against Rs 1,310.47 crore it recorded in the corresponding quarter last fiscal. Berger Paints acquired 100% of the paid up equity share capital of Saboo Coatings during the said quarter for Rs 82.85 crore. It also entered into a joint venture with Japan-based Rock Paint for sale of superior automotive refinish paints in India and Nepal. Berger will hold 51% and Rock Paint will hold 49% in the share capital of the joint venture company.