U.K Paints (India) has declared that it has acquired 50.09% stake in Berger Paints through open market operations. The company has acquired the 20,000 shares that carried voting rights.
Prior to acquisition, UK Paints (India) had 486,545,399 shares, i.e 50.09% share in the company.
the second quarter Berger Paints India reported a consolidated net profit of ₹219.51 crore. It is marginally up from Rs 219.21 crore in the year-ago period.
Revenue from operations for the quarter under review was Rs 2,670.9 crore, a 20% increase from Rs 2,225 crore in the corresponding period last year, while EBITDA stands at Rs. 376.53 crore in September 2022 up 2.6% from Rs. 366.98 crore in September 2021.
The shares of Berger Paints closed 0.16% down at Rs 608.25 at BSE.
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