Business Daily from THE HINDU group of publications
Tuesday, Jan 30, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jan 30, 2007 ePaper |
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Corporate Results
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Paints Asian Paints Q3 net rises 7.1 pc Our Bureau
Net Sales increased by 12.9 per cent to Rs 705.9 crore (Rs 625.4 crore). PBDIT for the quarter increased by 5.9 per cent to Rs 111.8 crore (Rs 105.5 crore). "The performance of the Indian paints business has been good during the quarter. Due to bulk of the festival sales taking place in the second quarter, sales growth in India for this quarter was modest in relation to the previous quarters and was entirely expected," said Mr Ashwin Dani, Vice-Chairman and Managing Director, Asian Paints Ltd. The international business has grown in excess of 30 per cent for the quarter due to an excellent performance by the West Asian region, he said. Profit before tax and extraordinary item was Rs 98.2 crore (Rs 92.6 crore), an increase of 6.1 per cent. "Demand conditions after Diwali continue to be good. The company implemented a price increase in mid-January for its decorative coatings products. We remain optimistic regarding sales growth in the fourth quarter," said Mr Dani. On a consolidated basis, net profit for the third quarter grew 14 per cent, to Rs 71.2 crore (Rs 62.6 crore). Net sales rose 16.6 per cent, to Rs 935.6 crore (Rs 802.3 crore). The company's stock declined by 0.95 per cent on BSE, to close Monday at Rs 790.5.
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