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Asian Paints has posted a 12 per cent rise in net profit at Rs 368 crore (Rs 329 crore) for the quarter ended December 31, 2014.
Income from operations rose six per cent to Rs 3,653 crore (Rs 3,452 crore).
K B S Anand, MD & CEO, said: “We registered single-digit volume growth in the decorative paint segment in India due to sluggish demand conditions. Growth in the current quarter was also impacted due to the early festival season as compared to the previous year. The Automotive Coatings JV (PPG-AP) witnessed good growth in the general industrial and auto refinish business segments. However, the Auto OEM business was impacted by subdued consumer demand. The growth in the Industrial Coatings JV (AP-PPG) was led by demand in the industrial liquid paints segment. The international business performance was led by double-digit growth in some markets like Bangladesh, Nepal and Emirates.”
The company scrip ended down 3.59 per cent at Rs 877.60 on the BSE.
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