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Asian Paints' net profit for the fourth quarter of FY11 dipped 3.16 per cent year on year to Rs 171.4 crore (Rs 177 crore) on a standalone basis. The company attributed the fall to not being able to fully pass on the rise in input costs to customers. Operating income for the quarter increased 24 per cent to Rs 1,607.4 crore (Rs 1,296.1 crore).
“Our decorative business achieved good growth driven by strong demand across geographies in India,” said Mr P.M. Murty, MD and CEO, Asian Paints Ltd. “During the year, we witnessed high level of inflation in raw material prices and the upward surge is likely to continue due to shortage of key raw materials,” he added.
The company announced a final dividend of Rs 23.5/share.
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