New Delhi, May 23 (PTI) Paints and coatings maker Akzo Nobel India Ltd on Tuesday reported a 2 per cent decline in its consolidated net profit to Rs 95.4 crore for the fourth quarter ended on March 31, 2023.

The company had posted a net profit of Rs 97.4 crore during the January-March quarter a year ago, Akzo Nobel said in a regulatory filing.

Also Read | Ganja Ban: Odisha Government Bans Ganja at Shiva Shrines Across the State.

Its revenue from operations was up 9.72 per cent to Rs 951.4 crore during the quarter under review as against Rs 867.1 crore in the corresponding period of the previous fiscal.

Total expenses of Akzo Nobel were at Rs 824.9 crore, up 33.73 per cent in the last quarter of FY23 as against Rs 514.42 crore a year ago.

Also Read | Reliance Jio Adds 30.5 Lakh Mobile Users in March 2023; Vodafone Idea Loses 12 Lakh Users.

For the fiscal ended March 2023, Akzo Nobel India's net profit was up 15.51 per cent to Rs 335.1 crore. It reported a net profit of Rs 290.1 crore in FY22.

Its consolidated revenue from operations was Rs 3,802.1 crore in FY23, 20.75 per cent higher than the preceding fiscal.

Shares of Akzo Nobel India on Tuesday settled at Rs 2,506.20 on BSE, up 2.75 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)