Asian Paints Ltd on Wednesday reported a consolidated net profit of Rs 347.30 crore on the back of net sales of Rs 3,586.75 crore for the second quarter ended September 30, 2014.
In the same period of the previous fiscal, the company had posted a net profit of Rs 326.84 crore and net sales of Rs 3,084.06 crore.
The company said the result of the quarter under review is not comparable with the corresponding quarter of the previous year as it acquired 51 per cent stake in kitchen solutions provider Sleek International Pvt Ltd in August 2013.
Overall expenses in the quarter stood at Rs 3,163.61 crore. In the second quarter of the previous year, the same stood at Rs 2,664.13 crore.
Commenting on the result, Asian Paints Managing Director and Chief Executive Officer KBS Anand said: “Double digit volume growth was witnessed across regions in the decorative paint segment... The international business was led by good growth in markets like Bangladesh, Nepal and Oman.”
Shares of Asian Paints closed 0.79 per cent up at Rs 649.90 apiece on the BSE.