Calcutta, Aug. 3: Berger Paints has reported a 54.5 per cent jump in its June-quarter consolidated net profit at Rs 120.26 crore against Rs 77.84 crore a year ago, helped by stability in expenses and growing revenue.

Consolidated net income from operations during the quarter was Rs 1,246.08 crore compared with Rs 1,126.32 crore in the year-ago period. Total expenses stood at Rs 1,077.07 crore compared with Rs 1,005.17 crore a year ago.

The Calcutta-based paint maker's board has recommended the issue of two bonus shares for every five fully paid-up equity shares. As a result, its paid-up capital will increase to Rs 97.09 crore from Rs 69.35 crore, the company has informed the bourses.

The board has also recommended a final dividend of Re 1 per equity share in addition to an interim dividend of Rs 0.65 per share.

The company is also looking to set up a new plant in Assam to expand its footprint in the eastern and the northeastern regions. The plant located in the Nagaon district of Assam near Tezpur is scheduled to start production by January 2017.

Abhijit Roy, MD and CEO of Berger Paints, said the company had been so far servicing the demand in the northeastern region mainly from its factory at Rishra in Bengal. The growing demand from the region has led to the company's decision to set up a plant.

The new unit will produce the entire range of products, including water-based, solvent-based and dry products such as putty and distemper.