Financial Daily from THE HINDU group of publications
Thursday, Oct 27, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 27, 2005 |
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Corporate Results
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Paints Asian Paints Q2 net up 27.7 pc Our Bureau
Mumbai , Oct. 26 ASIAN Paints Ltd has reported a 27.7 per cent increase in net profit at Rs 69.91 crore for the second quarter this fiscal against Rs 492.67 crore in the year-ago period. The board has recommended an interim dividend of Rs 4.50 per share. Sales moved up to Rs 602.47 crore (Rs 517.9 crore). The surge in sales has been driven by a strong demand for decorative and industrial paints in India and West Asia. "The good performance of the decorative business in India, the largest contributor to the group's revenue is mainly due to excellent growth recorded in all wall finish products. The industrial coatings business in India has recorded strong growth in protective, powder, and automotive coatings. The international business has performed as per our expectations with all five regions registering good sales growth," the release said, quoting Mr Ashwin Dani, Vice-Chairman and Managing Director, Asian Paints Ltd.Asian Paints closed at Rs 494.40 on the BSE on Wednesday.
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