Berger Paints Apr-Jun net profit jumps 55% at Rs 120 crore

New Delhi: Berger Paints has reported an increase of 54.6 percent in consolidated net profit at Rs 120.30 crore for the first quarter ended June.Company's net profit in the same period (April-June) of previous fiscal was at Rs 77.80 crore."Income from operations for the quarter ended June 2016 was Rs 1,246.10 crore as against Rs 1,126.30 crore in the corresponding quarter of the last year, an increase of 10.6 percent," the company said in a regulatory filing.On standalone basis, net profit rose by 37 percent to Rs 114.20 crore.Total income (standalone) in the first quarter of current fiscal registered a growth of 9.6 percent to Rs 1,160.40 crore from Rs 1,058.70 crore in the same period of previous fiscal.Berger Paints said the company has allotted 27,73,91,165 bonus shares of Re 1 each in proportion of 2 bonus shares for every 5 fully paid up equity shares to eligible shareholders on July 19, 2016."As a result of the bonus issue, the paid-up capital of the company stands increased to Rs 97.09 crore from Rs 69.35 crore. Authorised capital of the company has been increased to Rs 110 crore from Rs 75 crore," it said in the filing.The company also informed that transfer of its paint division relating to four-wheeler passenger cars and SUV, three wheelers and related ancillaries to BNB Coatings India was completed after the close of business on June 30, in accordance with related business transfer agreement.