The Hindu Business Line : Asian Paints Q4 net trebles on sales push

Mumbai May 10 Asian Paints Ltd has reported a net profit of Rs 69.08 crore (Rs 20.08 crore) for the fourth quarter ended March 31, 2007, backed by higher sales.

Sales for the quarter under review increased by 29 per cent to Rs 727 crore from Rs 564.4 crore. The board of directors has recommended a final dividend of Rs 1 per share (10 per cent) on Rs 10 shares for March 31, 2007. The company had paid an interim dividend of Rs 5.50 per share and Rs 6.50 per share in March 2007.

Other financials

For the full year ended March 31, 2007, net profit on a standalone basis increased by 45 per cent to Rs 269 crore from Rs 187 crore. Sales and operating income increased by 21.7 per cent to Rs 2,821.2 crore (Rs 2,319 crore).

"Our performance illustrates strong operating results driven by impressive value as well as volume growth by all our business units.

All three business units of the company registered in excess of 15 per cent volume growth, while value sales for the group increased by 21.5 per cent ... ." said Mr Ashwin Dani, Vice-Chairman & Managing Director, Asian Paints Ltd.

Processing Charges

According to the company, net sales and operating income include income arising out of processing charges for products manufactured for the joint venture unit Asian PPG Industries Ltd and the wholly owned subsidiary Asian Paints Industrial Coatings Ltd.

The new manufacturing unit at Taloja commenced production from February, the company said in a release. Shares of Asian Paints closed up at Rs 786.35 on the BSE on Thursday from Rs 776.15 on Wednesday.

More Stories on : Financial Performance | Paints

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