New Delhi, Nov 7 (PTI) Paints and coatings maker Akzo Nobel India Ltd on Thursday reported a 4 per cent rise in its consolidated net profit at Rs 97.9 crore for the second quarter ended September 2024, helped by the growth in volumes and strong performance in B2B. vertical.

The company had posted a net profit of Rs 94.2 crore in the July-September quarter a year ago, according to a regulatory filing by Akzo Nobel.

Its operating revenue grew 2.71 per cent to Rs 982.3 crore during the quarter under review. This was Rs 956.3 crore in the corresponding period of the previous financial year.

Dulux paint maker Akzo Nobel’s total expenses increased 2.54 per cent to Rs 859.6 crore in the September quarter.

This impacts the rising RMC on gross margins, although profitability was protected by a balance between growth and OPEX, according to the company’s results presentation.

Akzo Nobel’s total income, which includes other income, for the September quarter increased 2.71 per cent to Rs 991.4 crore.

Its Chairman and Managing Director Rajiv Rajgopal said, “In Q2 FY25, we continued to deliver volume growth while maintaining profitability.”

Revenue growth was driven by strong B2B performance in paints and coatings, it added.

“Even as raw material costs increased, we invested in growth and protected our double-digit profitability by optimizing operational expenses,” Rajgopal added.

The company’s board of directors has approved an interim dividend of Rs 70 per share for FY25.

Shares of Akzo Nobel India Ltd settled at Rs 4,180.45 per share on Thursday, down 1.03 per cent.