The Board of Directors of Akzo Nobel India Limited approved the unaudited financial results for the quarter ended September 30, 2018, recently. However, net profit for the quarter at Rs 37 cr reflected a higher tax incidence compared to corresponding quarter of previous year, which included a tax refund, resulting in a decline of 5%.
Rajiv Rajgopal, Managing Director, AkzoNobel India: "Margins were impacted by increase in raw material cost, depreciation of rupee and unfavourable sales mix. As a testimony to its CSR programme, AkzoNobel India won three awards at the prestigious Asia Best CSR Award 2018 by CMO Asia in the spheres of Education and Skill Development."
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