diff --git a/WORKSPACE b/WORKSPACE
index c6c1f09af5f..7b21505c587 100644
--- a/WORKSPACE
+++ b/WORKSPACE
@@ -141,7 +141,7 @@ git_repository(
 # min target SDK version to be compatible with Oppia.
 git_repository(
     name = "kotlitex",
-    commit = "6b7db8ff9e0f4a70bdaa25f482143e038fd0c301",
+    commit = "43139c140833c7120f351d63d74b42c253d2b213",
     remote = "https://github.com/oppia/kotlitex",
     shallow_since = "1647554845 -0700",
 )
diff --git a/utility/BUILD.bazel b/utility/BUILD.bazel
index 96fcde1f0a1..aff05e104d5 100644
--- a/utility/BUILD.bazel
+++ b/utility/BUILD.bazel
@@ -33,6 +33,7 @@ android_library(
     custom_package = "org.oppia.android.util",
     manifest = "src/main/AndroidManifest.xml",
     resource_files = glob(["src/main/res/**/*.xml"]),
+    visibility = ["//visibility:public"],
 )
 
 # Visibility for migrated utility tests.
diff --git a/utility/build.gradle b/utility/build.gradle
index 4af0a029e0e..568eac1841b 100644
--- a/utility/build.gradle
+++ b/utility/build.gradle
@@ -83,7 +83,7 @@ dependencies {
       'androidx.lifecycle:lifecycle-livedata-ktx:2.2.0-alpha03',
       'androidx.work:work-runtime-ktx:2.4.0',
       'com.github.oppia:androidsvg:4bc1d26412f0fb9fd4ef263fa93f6a64f4d4dbcf',
-      'com.github.oppia:kotlitex:6b7db8ff9e0f4a70bdaa25f482143e038fd0c301',
+      'com.github.oppia:kotlitex:43139c140833c7120f351d63d74b42c253d2b213',
       'com.github.bumptech.glide:glide:4.11.0',
       'com.google.dagger:dagger:2.24',
       'com.google.firebase:firebase-analytics-ktx:17.5.0',
diff --git a/utility/src/main/java/org/oppia/android/util/parser/html/HtmlParser.kt b/utility/src/main/java/org/oppia/android/util/parser/html/HtmlParser.kt
index 7aef1725c76..ca7b8c0b661 100755
--- a/utility/src/main/java/org/oppia/android/util/parser/html/HtmlParser.kt
+++ b/utility/src/main/java/org/oppia/android/util/parser/html/HtmlParser.kt
@@ -1,5 +1,6 @@
 package org.oppia.android.util.parser.html
 
+import android.app.Application
 import android.content.Context
 import android.text.Spannable
 import android.text.SpannableStringBuilder
@@ -134,7 +135,8 @@ class HtmlParser private constructor(
         consoleLogger,
         context.assets,
         htmlContentTextView.lineHeight.toFloat(),
-        cacheLatexRendering
+        cacheLatexRendering,
+        context as? Application ?: context.applicationContext as Application
       )
     if (supportsConceptCards) {
       handlersMap[CUSTOM_CONCEPT_CARD_TAG] = conceptCardTagHandler
diff --git a/utility/src/main/java/org/oppia/android/util/parser/html/MathTagHandler.kt b/utility/src/main/java/org/oppia/android/util/parser/html/MathTagHandler.kt
index 9e20b7715ea..42ce1a0676e 100644
--- a/utility/src/main/java/org/oppia/android/util/parser/html/MathTagHandler.kt
+++ b/utility/src/main/java/org/oppia/android/util/parser/html/MathTagHandler.kt
@@ -1,11 +1,14 @@
 package org.oppia.android.util.parser.html
 
+import android.app.Application
 import android.content.res.AssetManager
 import android.text.Editable
 import android.text.Spannable
 import android.text.style.ImageSpan
+import androidx.core.content.res.ResourcesCompat
 import io.github.karino2.kotlitex.view.MathExpressionSpan
 import org.json.JSONObject
+import org.oppia.android.util.R
 import org.oppia.android.util.logging.ConsoleLogger
 import org.oppia.android.util.parser.html.CustomHtmlContentHandler.ImageRetriever.Type.BLOCK_IMAGE
 import org.oppia.android.util.parser.html.CustomHtmlContentHandler.ImageRetriever.Type.INLINE_TEXT_IMAGE
@@ -24,7 +27,8 @@ class MathTagHandler(
   private val consoleLogger: ConsoleLogger,
   private val assetManager: AssetManager,
   private val lineHeight: Float,
-  private val cacheLatexRendering: Boolean
+  private val cacheLatexRendering: Boolean,
+  private val application: Application
 ) : CustomHtmlContentHandler.CustomTagHandler {
   override fun handleTag(
     attributes: Attributes,
@@ -65,7 +69,15 @@ class MathTagHandler(
           )
         } else {
           MathExpressionSpan(
-            content.rawLatex, lineHeight, assetManager, isMathMode = !useInlineRendering
+            content.rawLatex,
+            lineHeight,
+            assetManager,
+            isMathMode = !useInlineRendering,
+            ResourcesCompat.getColor(
+              application.resources,
+              R.color.component_color_shared_equation_color,
+              /* theme = */ null
+            )
           )
         }
       }
diff --git a/utility/src/main/java/org/oppia/android/util/parser/math/BUILD.bazel b/utility/src/main/java/org/oppia/android/util/parser/math/BUILD.bazel
index 2beb8af1107..14eee4919a5 100644
--- a/utility/src/main/java/org/oppia/android/util/parser/math/BUILD.bazel
+++ b/utility/src/main/java/org/oppia/android/util/parser/math/BUILD.bazel
@@ -28,6 +28,7 @@ kt_android_library(
         ":math_latex_model",
         "//third_party:com_github_bumptech_glide_glide",
         "//third_party:io_github_karino2_kotlitex",
+        "//utility:resources",
         "//utility/src/main/java/org/oppia/android/util/logging:console_logger_injector_provider",
         "//utility/src/main/java/org/oppia/android/util/threading:dispatcher_injector_provider",
     ],
diff --git a/utility/src/main/java/org/oppia/android/util/parser/math/MathBitmapModelLoader.kt b/utility/src/main/java/org/oppia/android/util/parser/math/MathBitmapModelLoader.kt
index 73100116aea..605529a7f4c 100644
--- a/utility/src/main/java/org/oppia/android/util/parser/math/MathBitmapModelLoader.kt
+++ b/utility/src/main/java/org/oppia/android/util/parser/math/MathBitmapModelLoader.kt
@@ -12,6 +12,7 @@ import android.text.Spannable
 import android.text.SpannableStringBuilder
 import android.text.StaticLayout
 import android.text.TextPaint
+import androidx.core.content.res.ResourcesCompat
 import com.bumptech.glide.Priority
 import com.bumptech.glide.load.DataSource
 import com.bumptech.glide.load.Options
@@ -26,6 +27,7 @@ import kotlinx.coroutines.CoroutineDispatcher
 import kotlinx.coroutines.CoroutineScope
 import kotlinx.coroutines.launch
 import kotlinx.coroutines.withContext
+import org.oppia.android.util.R
 import org.oppia.android.util.logging.ConsoleLogger
 import org.oppia.android.util.logging.ConsoleLoggerInjectorProvider
 import org.oppia.android.util.threading.DispatcherInjectorProvider
@@ -109,7 +111,16 @@ class MathBitmapModelLoader private constructor(
         // creation can still happen in parallel, and those are the more expensive steps.
         val span = withContext(CoroutineScope(blockingDispatcher).coroutineContext) {
           MathExpressionSpan(
-            model.rawLatex, model.lineHeight, application.assets, !model.useInlineRendering
+            model.rawLatex,
+            model.lineHeight,
+            application.assets,
+            !model.useInlineRendering,
+            // TODO(#1523): Test color parameter in MathBitmapModelLoader
+            ResourcesCompat.getColor(
+              application.resources,
+              R.color.component_color_shared_equation_color,
+              /* theme = */null
+            )
           ).also { it.ensureDrawable() }
         }
         val renderableText = SpannableStringBuilder("\uFFFC").apply {
@@ -121,6 +132,7 @@ class MathBitmapModelLoader private constructor(
         // since the width isn't necessarily known ahead of time).
         // Any TextPaint can be used since the span will use its own.
         val textPaint = TextPaint()
+
         @Suppress("DEPRECATION") // This call is necessary for the supported min API version.
         val staticTextLayout =
           StaticLayout(
diff --git a/utility/src/main/res/values-night/color_palette.xml b/utility/src/main/res/values-night/color_palette.xml
new file mode 100644
index 00000000000..172ed64d460
--- /dev/null
+++ b/utility/src/main/res/values-night/color_palette.xml
@@ -0,0 +1,5 @@
+<?xml version="1.0" encoding="utf-8"?>
+<!-- TODO(#59): Consolidate color resource files once Bazel migration is done -->
+<resources>
+  <color name="color_palette_shared_equation_color">@color/color_def_white</color>
+</resources>
diff --git a/utility/src/main/res/values/color_defs.xml b/utility/src/main/res/values/color_defs.xml
new file mode 100644
index 00000000000..ec5a46fc52d
--- /dev/null
+++ b/utility/src/main/res/values/color_defs.xml
@@ -0,0 +1,6 @@
+<?xml version="1.0" encoding="utf-8"?>
+<!-- TODO(#59): Consolidate color resource files once Bazel migration is done -->
+<resources>
+  <color name="color_def_black">#000000</color>
+  <color name="color_def_white">#FFFFFF</color>
+</resources>
diff --git a/utility/src/main/res/values/color_palette.xml b/utility/src/main/res/values/color_palette.xml
new file mode 100644
index 00000000000..39430259019
--- /dev/null
+++ b/utility/src/main/res/values/color_palette.xml
@@ -0,0 +1,5 @@
+<?xml version="1.0" encoding="utf-8"?>
+<!-- TODO(#59): Consolidate color resource files once Bazel migration is done -->
+<resources>
+  <color name="color_palette_shared_equation_color">@color/color_def_black</color>
+</resources>
diff --git a/utility/src/main/res/values/component_colors.xml b/utility/src/main/res/values/component_colors.xml
new file mode 100644
index 00000000000..e3bfeccce95
--- /dev/null
+++ b/utility/src/main/res/values/component_colors.xml
@@ -0,0 +1,5 @@
+<?xml version="1.0" encoding="utf-8"?>
+<!-- TODO(#59): Consolidate color resource files once Bazel migration is done -->
+<resources>
+  <color name="component_color_shared_equation_color">@color/color_palette_shared_equation_color</color>
+</resources>
diff --git a/utility/src/test/java/org/oppia/android/util/parser/html/MathTagHandlerTest.kt b/utility/src/test/java/org/oppia/android/util/parser/html/MathTagHandlerTest.kt
index 870ea193d7c..535d5c90e58 100644
--- a/utility/src/test/java/org/oppia/android/util/parser/html/MathTagHandlerTest.kt
+++ b/utility/src/test/java/org/oppia/android/util/parser/html/MathTagHandlerTest.kt
@@ -2,6 +2,7 @@ package org.oppia.android.util.parser.html
 
 import android.app.Application
 import android.content.Context
+import android.graphics.Color
 import android.text.Html
 import android.text.Spannable
 import android.text.style.ImageSpan
@@ -34,6 +35,7 @@ import org.oppia.android.util.logging.ConsoleLogger
 import org.oppia.android.util.logging.LoggerModule
 import org.oppia.android.util.parser.html.CustomHtmlContentHandler.CustomTagHandler
 import org.oppia.android.util.parser.html.CustomHtmlContentHandler.ImageRetriever
+import org.robolectric.annotation.Config
 import org.robolectric.annotation.LooperMode
 import javax.inject.Inject
 import javax.inject.Singleton
@@ -246,6 +248,33 @@ class MathTagHandlerTest {
     verifyNoMoreInteractions(mockImageRetriever) // No cached image loading.
   }
 
+  @Test
+  fun testParseHtmlDayColor_withMathMarkup_cachingOff_getEquationDayColor() {
+    val parsedHtml =
+      CustomHtmlContentHandler.fromHtml(
+        html = MATH_WITHOUT_FILENAME_MARKUP,
+        imageRetriever = mockImageRetriever,
+        customTagHandlers = tagHandlersWithUncachedMathSupport
+      )
+
+    val equationColor = parsedHtml.getSpansFromWholeString(MathExpressionSpan::class)
+    assertThat(equationColor[0].equationColor).isEqualTo(Color.BLACK)
+  }
+
+  @Config(qualifiers = "night")
+  @Test
+  fun testParseHtmlNightColor_withMathMarkup_cachingOff_getEquationNightColor() {
+    val parsedHtml =
+      CustomHtmlContentHandler.fromHtml(
+        html = MATH_WITHOUT_FILENAME_MARKUP,
+        imageRetriever = mockImageRetriever,
+        customTagHandlers = tagHandlersWithUncachedMathSupport
+      )
+
+    val equationColor = parsedHtml.getSpansFromWholeString(MathExpressionSpan::class)
+    assertThat(equationColor[0].equationColor).isEqualTo(Color.WHITE)
+  }
+
   @Test
   fun testParseHtml_noTagHandler_withMathMarkup_doesNotIncludeImageSpan() {
     val parsedHtml =
@@ -306,7 +335,13 @@ class MathTagHandlerTest {
 
   private fun createMathTagHandler(cacheLatexRendering: Boolean): MathTagHandler {
     // Pick an arbitrary line height since rendering doesn't actually happen in tests.
-    return MathTagHandler(consoleLogger, context.assets, lineHeight = 10.0f, cacheLatexRendering)
+    return MathTagHandler(
+      consoleLogger,
+      context.assets,
+      lineHeight = 10.0f,
+      cacheLatexRendering,
+      application = context.applicationContext as Application
+    )
   }
 
   private fun <T : Any> Spannable.getSpansFromWholeString(spanClass: KClass<T>): Array<T> =