Furniture-furnishing paints company Akzo Nobel India announced Q1FY24 results: Revenue from operations up 7% to Rs 999 crore EBIT from operations up 40% to Rs 143 crore, sustained double-digit EBIT margin Profit After Tax (PAT) up 43% to Rs 110 crore Sharing an overview of the quarter’s performance, Rajiv Rajgopal, Managing Director, Akzo Nobel India said, “Building on our profitable growth momentum, we delivered a record performance across absolute Revenue, EBIT, and PAT in the first quarter of FY24. Demand uptick seen across infrastructure, automotive, marine and oil and gas sectors aided Coatings, conducive real estate drove projects; while semi-urban, rural geographies supported retail growth during the quarter. Sequential softening in raw material costs and gains of earlier pricing actions translated to an improvement in gross margins. Favourable operating leverage drove continued double-digit profitability. Operating profit after tax crossed Rs 100 crore mark per quarter for the first time.” Result PDF