Financial Results for the quarter ended 30th June 2019

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Express Painting-The Hassel Free Way By Berger Paints
Express Painting-The Hassel Free Way By Berger Paints

Financial Results for the quarter ended 30th June 2019

Highlights of the Standalone Results:

a.    Revenue from Operations for the quarter ended 30th June, 2019 was Rs.1, 585.2 crores (previous year: Rs. 1,372.2 crores), representing an increase of 15.5%.

b.   PBDIT (Profit Before Depreciation, Interest , Tax and other income) for the quarter ended 30th June , 2019 was Rs 286.5 crores as against Rs 228.1 crores in the corresponding quarter last year, representing an increase of 25.6%

Highlights of the Consolidated Results:

a.    Revenue from Operations for the quarter ended 30th June, 2019 was Rs.1716.5 crores (previous year: Rs. 1,483.0 crores), representing an increase of 15.7%.

c.    PBDIT (Profit Before Depreciation, Interest , Tax and other income) for the quarter ended 30th June , 2019 was Rs. 305.2 crores as against Rs. 239.4 crores in the corresponding quarter last year, representing an increase of 27.5%

The company has implemented new Accounting Standard 116 (‘IND AS 116’), Leases, with effect from 1st April, 2019 by adopting the full retrospective approach. Accordingly, the Standalone and Consolidated Financial results for the quarter ended 30th June, 2019 and all the presented comparative periods are in compliance with Ind AS 116. Therefore, applicable lease rental arrangements are now recognized as right of use assets and consequent depreciation and finance cost (on lease liability) accounted for instead of the rentals being charged of as expenses.