Financial Daily from THE HINDU group of publications
Thursday, Jul 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 29, 2004 |
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Corporate Results
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Paints Asian Paints net up at Rs 33.45 cr Our Bureau
Mumbai , July 28 ASIAN Paints (India) Ltd has reported a higher net profit of Rs 33.45 crore for the first quarter of 2004-05 compared to Rs 28.79 crore in the year-ago period. Net sales rose to Rs 415.20 crore from Rs 379.33 crore. This increase was attributed to a value growth of 8.6 per cent in paints segment and 22.7 per cent growth in chemicals business. Other income moved up by 5.8 per cent to Rs 4.14 crore from Rs 3.92 crore in the year-ago period. The company received dividend of Rs 1.5 crore from its joint venture with Asian PPG Industries Ltd. In its consolidated accounts, Asian Paints recorded a net profit of Rs 33.56 crore (Rs 26.11 crore). Net sales stood at Rs 546.69 crore (Rs 490.41 crore). Sales improved mainly because of robust offtake of paints in India as well as overseas. "The overseas operations now constitute 19.2 per cent of consolidated sales for the current quarter compared to 18.4 per cent for the previous corresponding quarter," the company said in a release.
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