Corporate Results
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Paints
Asian Paints Q3 net up 21 pc
Our Bureau
Mumbai
,
Jan. 31
ASIAN Paints Ltd has reported a 21 per cent increase in its third quarter net profit after prior-period items at Rs 60.96 crore compared to Rs 50.11 crore in the year-ago period.
Total income moved up to Rs 648.91 crore from Rs 588.52 crore in the year-ago period.
In its consolidated performance, the group has posted a profit attributable to shareholders of Rs 62.63 crore for the third quarter (Rs 56.03 crore).
Total income (net of discounts and excise duty) is at Rs 826.16 crore (Rs 748.37 crore).
The company said it has had steady growth in all segments of decorative coatings and across all regions of the country. "This is in spite of the Diwali season being impacted by prolonged and heavy rains. However, underlying demand is good and we look forward with confidence. Sales from our industrial as well as international operations registered steady positive growths,'' the company said in a news release quoting Mr Ashwin Dani, Vice-Chairman and Managing Director.
In its domestic operations, Asian Paints witnessed a softening of raw material prices in the last quarter.
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