The company had reported a net profit of Rs 44.85 crore in the January-March quarter last year.

Net sales during the quarter stood at Rs 804.9 crore, an increase of 7.71 percent compared with Rs 747.22 crore in the year-ago period, the company said in a BSE filing.
Meanwhile in a separate filing, Kansai Nerolac said it will invest Rs 350 crore to set up a new plant in Gujarat.

"The Board of Directors of the company at its meeting has approved setting up of a paint manufacturing unit at Sayakha Industrial Estate in Gujarat having capacity of 42,000 tonnes per year, which is expandable in phases, at an estimated cost of Rs 350 crore," Kansai Nerolac said.

For the year ended March 31, Kansai Nerolac reported net profit of Rs 271.67 crore against Rs 206.57 crore in the previous year.

Kansai Nerolac's net sales in the year stood at Rs 3,532.41 crore compared with Rs 3,145.77 crore in the previous year.

The Board of Directors also recommended a dividend of Rs 1.40 per share.

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