Akzo Nobel India has reported total income of Rs.787.10 crores during the period ended March 31, 2021 as compared to Rs.780.35 crores during the period ended December 31, 2020. The company reported total income Rs.597.08 crores during the period ended March 31, 2020.

The company has posted net profit of Rs.74.25 crores for the period ended March 31, 2021 as against net profit of Rs.87.37 crores for the period ended December 31, 2020. The company posted net profit of Rs.54.08 crores for the period ended March 31, 2020.

Akzo Nobel India has reported total income of Rs.2444.60 crores during the 12 months period ended March 31, 2021 as compared to Rs.2699.43 crores during the 12 months period ended March 31, 2020.

Akzo Nobel India has posted net profit of Rs.207.64 crores for the 12 months period ended March 31, 2021 as against net profit of Rs.237.46 crores for the 12 months period ended March 31, 2020.

Rajiv Rajgopal, Managing Director, AkzoNobel India: "The trend of recovery was sustained, with the quarter bringing a strong finish to a challenging year. Paints, Powder, and Automotive and Specialty Coatings saw strong growth, although we faced headwinds in oil and gas segment. While the businesses reported strong double-digit volume growth during the quarter, demand for the same period last year was impacted by COVID-19 (impacting the year-on-year comparison)."

Raw material cost inflation is expected to continue, although profitability improved due to revenue development and value engineering initiatives.

"In terms of our full-year performance, revenue was 9% lower during 2020-21, with the second half partially offsetting the adverse impact of the first half. Margins were close to the previous year's level, as a result of cost discipline and transformation initiatives".

Although the industry outlook remains positive, the second wave of COVID-19 infections presents a challenging environment in the short-term. Adds Rajgopal: "Employee safety and welfare continue to be our top priority."