However, Revenue from operations increased 7.81% YoY to Rs 310.96 crore in Q1 FY25.
Profit before tax stood at Rs 35.69 crore in the quarter ended 30 June 2024, down 15.70% from Rs 42.34 crore posted in same quarter last year.
During the quarter, the company’s EBITDA slipped 3.46% to Rs 47.4 crore in Q1 FY25 as compared to Rs 49.1 crore posted in Q1 FY24.
The company’s subsidiary, Apple Chemie India had recorded a stellar growth of 47.1% during the period under consideration.
On standalone basis, the company’s consolidated net profit declined 15.47% to Rs 26.45 crore in Q1 FY25 as compared with Rs 31.29 crore in Q1 FY24. Revenue from operations increased 6.11% YoY to Rs 293.94 crore during the quarter.
A&P stood at 7.2% of revenue from operations, reducing from 7.6% in corresponding quarter last year.
Indigo Paints offers a wide range of interior & exterior wall paint colours, enamels & wood coatings for homes & offices.