Berger Paints share price rises 3% after Q3 profit jumps 51% to Rs 275 crore

The paint maker reported a 51.2 percent jump in consolidated net profit to Rs 275 crore for the third quarter ended December 2020. It had posted a net profit of Rs 181.9 crore in the October-December quarter a year ago.

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Berger Paints India share price was up over 3 percent in the morning session on February 10 after the company declared its Q3 results.

The paint maker on February 9 reported a 51.2 percent jump in consolidated net profit to Rs 275 crore for the quarter ended December 2020. It had posted a net profit of Rs 181.9 crore in the October-December quarter a year ago.

Revenue from operations of the company stood at Rs 2,118.2 crore, up 25 percent, during the quarter under review as against Rs 1,695.9 crore in the corresponding period of the last fiscal, Berger Paints said in a BSE filing.

The stock was trading at Rs 777.95, up Rs 16.65, or 2.19 percent at 09:26 hours. It has touched an intraday high of Rs 792.10 and an intraday low of Rs 771.70.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. The company has zero promoter pledge with FII / FPI or institutions increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

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