Akzo Nobel posts 43 per cent sequential decline in PAT

Akzo Nobel reported its results for the quarter ended June 30, 2017 on Monday.

The company's total sales for Q1FY18 came in at Rs 791.25 crore, which represents a 0.95 per cent sequential increase and 1.55 per cent YoY increase.

Its operating profit (EBIT) for the quarter amounted to Rs 51.89 crore and its EBIT margin stood at 6.56 per cent.

The company reported PAT of Rs 41.27 crore, which represents a sequential QoQ decline of 43.19 per cent and a YoY decline of 35.78 per cent.

Akzo Nobel is a leading global paints and performance coatings company and major producer of speciality chemicals, supplying essential ingredients, essential protection and essential colour to industries and consumers worldwide.

The stock opened at Rs 1779 and touched an intra-day high and low of Rs 1798.5 and Rs 1752, respectively, on the BSE.