Financial Daily from THE HINDU group of publications
Thursday, Oct 28, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 28, 2004 |
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Corporate Results
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Paints Asian Paints net up at Rs 48.8 cr Our Bureau
Mumbai , Oct. 27 ASIAN Paints (India) Ltd returned a net profit of Rs 48.8 crore for the quarter ended September 30, up four per cent from Rs 46.9 crore in the second quarter last year. During the period, the paint major posted a eight per cent rise in its net sales at Rs 534.41 crore from Rs 495.18 crore. The EPS was at Rs 5.07 (Rs 4.89). The board of directors of the company recommended an interim dividend of 40 per cent. The dividend distributed by Asian Paints for the last fiscal was 85 per cent. "The decorative coatings business in India, the largest contributor to the group revenue, has performed well. The emphasis has been to drive top line growth and increase market share by aggression on pricing, new offerings in the economy segment and enhanced focus on top-of-the-line products. International operations registered a 20 per cent growth for the first half with West Asi growing by 34 per cent", said Mr Ashwin Dani, Vice-Chairman and Managing Director, Asian Paints. The consolidated sales for the quarter stood at Rs 683.9 crore as against Rs 616.2 crore last year and the consolidated net profit was at Rs 50.07 crore (Rs 47.94 crore). The consolidated net sales during the first six months was Rs 1,230.7 crore, up 11 per cent from Rs 1,106 crore in the previous six months.
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