Indigo Paints Ltd. posted a 43% increase in profit in the third quarter of fiscal 2024.
Net profit came at Rs 37.6 crore in the October-December quarter, as compared with Rs 26.3 crore over the same period last year, according to the exchange filing.
Indigo Paints Q3 FY24 (Consolidated, YoY)
Revenue up 25.77% at Rs 353.8 crore vs Rs 281.3 crore.
Ebitda up 53.2% at Rs 62.2 crore vs Rs 40.6 crore.
Margin at 17.58% vs 14.43%.
Net profit rises 42.96% to Rs 37.6 crore vs Rs 26.3 crore.
Indigo Paints has grown by over 3-4 times the industry growth rate, indicating market share gain, the company said. The sales growth has been accompanied by robust growth in profitability as well, it said.
Shares of Indigo Paints rose 0.78%, as compared with a 0.3% gain in the benchmark Nifty 50.
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