Mumbai, Nov. 4 -- An abnormally long monsoon and higher marketing spends washed away the second-quarter earnings growth of Berger Paints India Ltd when India's second-largest paintmaker and its peers grapple with rising competition in the sector. The company has pinned hopes on pent-up demand.

Festive buying had occurred earlier in the year, so October was soft for the industry, the company's management said in an analyst call after reporting its results for the quarter ended September. The company believes it fared "slightly better" than others.

Berger Paints expects a mid-single-digit value growth in the third quarter ending December, with higher volume growth, assuming November performs well.

"It kept on raining until almost the end...