Berger Paints Bangladesh achieved a 5.42% YoY increase in net profit during the April-June quarter of 2023, reaching Tk 972 million. The growth was attributed to reduced operating costs and a significant rise in finance income. Despite positive profit growth, the company faced challenges in sales revenue, which only saw a 0.87% YoY increase to Tk 6.92 billion due to macroeconomic adversities and rising raw material costs. The paints industry is encountering hurdles from expensive raw materials and the local currency’s devaluation against the US dollar. Berger managed to offset some costs by adjusting sales prices and reducing operational expenses, leading to a higher profit. However, its sales revenue growth was impacted. Berger Paints recently decided to borrow a $60 million loan from its parent company to address the dollar crisis for importing raw materials.
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