The Hindu Business Line : Asian Paints net profit, sales rise 30% in Q1

Mumbai, July 23 Higher sales enabled Asian Paints to clock a 29.6 per cent increase in its consolidated net profit to touch Rs 106.2 crore for the quarter ended June 30, 2008, as compared to Rs 81.0 crore during the previous corresponding quarter.

The company’s sales grew by 29.3 per cent at Rs 1,242 crore (Rs 960.50 crore).

On a standalone basis, the company’s net profit stood at Rs 98 crore, up by 32 per cent (Rs 74.2 crore), while net sales increased by 34.5 per cent at Rs 995.2 crore.

Mr Ashwin Dani, Vice-Chairman and Managing Director of the company, said the three businesses of the company — decorative, industrial and international business — recorded good growth.

“Demand conditions for decorative paints continued to remain good in most parts of the country. The margins are however under pressure on account of rising material prices. The impact of inflation on demand can be gauged only in the coming months,” he added.

More Stories on : Paints

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Thermax delivers Q1 nos in line with expectations

Strides suffers Rs 56-cr net loss

United Spirits net up 34% at Rs 117 cr

Mastek Q4 net rises on insurance revenues push

Infotech Q1 net doubles, but down 5% sequentially

California Software net up 14%

LMW Q1 sales, net profit dip

Star Health posts Rs 3.16-cr profit in first year

Asian Paints net profit, sales rise 30% in Q1