How were the Q3 numbers of Kansai Nerolac?
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Kansai Nerolac, one of India’s major paint manufacturers, reported 14.9% higher sales at Rs.1,694 crore. However, the net profits fell -34.4% at Rs.133 crore in the Dec-21 quarter due to higher crude prices and a spike in other input costs. EBITDA was down 27.8% at Rs.304 crore. Kansai Nerolac could only pass part of the input cost hikes as higher prices.