Asian Paints net profit jumps 21%

Reuters | Updated on January 08, 2018 Published on October 24, 2017

Asian Paints Ltd on Tuesday posted a 21 per cent rise in second-quarter net profit on Tuesday, beating estimates.

Net profit rose to Rs 576 crore ($88.58 million) in the three months ended September 30, from Rs 476 crore a year earlier, the Mumbai-headquartered company said.

According to Thomson Reuters data, analysts on average had expected a profit of Rs 517 crore. The company's revenue from operations rose 2.3 per cent to Rs 4,274 crore.

The board has approved payment of interim dividend of Rs. 2.65 per equity share of the face value of Rs. 1 each for the financial year ending March 31, 2018.

Shares of the company were trading higher by 4.28 per cent at Rs 1,222.55 on the BSE.

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Published on October 24, 2017
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