Asian Paints July-Sept profit surges 37%
22 Oct 2013 5:53 AM IST
Asian Paints on Monday reported an increase of 36.66 per cent in consolidated net profit at Rs 326.84 crore for its second quarter ended 30 September.
The company had posted a consolidated net profit of Rs 239.16 crore in the same period of previous fiscal, Asian Paints said in a filing to the BSE. Consolidated net sales of the company during July- September quarter of the current fiscal were Rs 3,084.06 crore, compared to Rs 2,612.41 crore in the year-ago period.
‘The decorative paints business in India fared very well and registered double digit volume growth. Good growth witnessed across geographies especially in tier-2 and tier-3 cities,’ Asian Paints managing director and CEO KBS Anand said.
The industrial paints segment continued to be affected by the economic slowdown, while automotive coating growth was subdued due to lower demand in the auto sector, he added.
For the first half of the 2013-14 fiscal, Asian Paints consolidated net profit increased by 14.12 per cent to Rs 602.04 crore, as against Rs 527.54 crore in the year-ago period.
The company had posted a consolidated net profit of Rs 239.16 crore in the same period of previous fiscal, Asian Paints said in a filing to the BSE. Consolidated net sales of the company during July- September quarter of the current fiscal were Rs 3,084.06 crore, compared to Rs 2,612.41 crore in the year-ago period.
‘The decorative paints business in India fared very well and registered double digit volume growth. Good growth witnessed across geographies especially in tier-2 and tier-3 cities,’ Asian Paints managing director and CEO KBS Anand said.
The industrial paints segment continued to be affected by the economic slowdown, while automotive coating growth was subdued due to lower demand in the auto sector, he added.
For the first half of the 2013-14 fiscal, Asian Paints consolidated net profit increased by 14.12 per cent to Rs 602.04 crore, as against Rs 527.54 crore in the year-ago period.
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