Asian Paints clocks 17.9% growth in Q1 profit; decorative business registers double-digit growth

NEW DELHI: Asian Paints on Wednesday reported a 17.90 per cent rise in consolidated net profit to Rs 535 crore in the June quarter.

The paint company had reported a consolidated profit of Rs 453.70 crore in the corresponding quarter of last year.
Income from operations grew 10.2 per cent per cent at Rs 4,082.10 crore, the company said, compared with Rs 3,703 crore in the year-ago quarter.

Ebitda was up 20.90 per cent YoY to Rs 820.30 crore against Rs 678.60 crore in the same quarter last year.

In a regulatory filing to BSE, KBS Anand managing director and CEO at Asian Paints said that the decorative business segment in India registered double-digit growth in the quarter. Lower raw material prices led to improved margins, Anand said.

“Our international business performed well aided by good growth in markets like Nepal, UAE and Fiji,” Anand added.
The stock ended 0.11 per cent higher at Rs 1,061.80 for the day.