Asian Paints net profit up 78.9 pc
Insight Online News
Mumbai, July 26 : Asian Paints on Tuesday reported 78.9 per cent increase in its net profit to Rs 1,016.93 crore for the quarter ended on June 30, 2022, as compared to Rs 568.50 crores in the corresponding period last year.
Consolidated sales increased by 55 per cent to Rs 8,578.88 crore from Rs 5,534.87 crore, the company said in a regulatory filing.
Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share in profit of associates) increased by 70.3 per cent to Rs 1,555.95 crores from Rs 913.56 crore while profit before exceptional items and tax was up by 83.8 per cent to Rs 1,430.83 crore from Rs 778.58 crore.
Commenting on the results, Amit Syngle, Managing Director and CEO of Asian Paints Ltd, said, “The domestic decorative business experienced good consumer demand and recorded stellar revenue growth for the quarter. The volume growth registered in the quarter is one of the highest in the last six quarters.”