Berger Paints Q1 Results: Net profit rises 40% co announces 1:5 bonus issue

The Board of Kolkata-based multinational paint company Berger Paints India Ltd on Wednesday recommended issue of bonus shares in the ratio of 1:5. This means, for every five shares investors hold, they will get one additional share.

Berger Paints News Highlight Points

  • Berger Paints to consider bonus issue on August 9. The company’s board of directors will meet on August 9 to consider and approve a proposal for a bonus issue. If approved, the bonus issue will be in the ratio of 1:5.
  • Berger Paints Q1 net profit up 40% YoY. The company reported a consolidated net profit of Rs 355 crore for the first quarter of FY24, up 40% from the same period last year. Revenue for the quarter was Rs 2,998 crore, up 8.6% from the previous year.
  • Berger Paints share price up on bonus issue news. Berger Paints share price rose by over 2% on August 9 after the company announced that its board would consider a bonus issue. The stock closed at Rs 642.75 on the BSE.
  • Berger Paints bullish on growth in FY24. The company expects to grow its net profit by 15-20% in FY24. Revenue is expected to grow by 10-12%.
  • Berger Paints to focus on expansion in tier II and III cities.The company plans to expand its presence in tier II and III cities in the coming years. It will also focus on increasing its market share in the decorative paint segment.

These are just a few of the current news highlights for Berger Paints. For more information, please visit the company’s website or news releases.

Berger Paint Stock Chart  Price

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