Corporate Results
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Paints
Asian Paints Q1 net up 31% at Rs 58.02 cr
Our Bureau
Mumbai
,
July 28
Asian Paints has reported a standalone Q1 net profit of Rs 58.02 crore, a 30.8 per cent increase, compared to Rs 44.37 crore in the corresponding quarter of the previous year. Net sales increased by 18.3 per cent to Rs 603.39 crore (Rs 509.97 crore).
Basic EPS rose from Rs 4.63 to Rs 6.05. On consolidation of accounts of the subsidiaries and joint ventures of Asian Paints, net profit of the group increased by 37.7 per cent to Rs 60.30 crore (Rs 43.78 crore). Sales and Operating Income rose by 17.3 per cent to Rs 777.3 crore from Rs 662.58 crore.
In a press release, Mr Ashwin Dani, Vice-Chairman & Managing Director, Asian Paints Ltd, said: "Demand was buoyant in almost all segments of the business. Our operations were able to record excellent growth; given our strengths in product range and geographic representation, we are well positioned to take advantage of the opportunities. The international business recorded satisfactory growth in the first quarter."
Shares of the company fell by 0.28 per cent to close at Rs 585 on the BSE.
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