Asian Paints Q3 net profit up 33% despite subdued demand

Sales in the international market increased 15.3 per cent in Q2 FY23 to Rs 805.99 crore from Rs 699.28 crore in the year-ago period.

PTIUpdated: Thursday, October 20, 2022, 03:17 PM IST
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The demand has been low due to an extended monsoon. |

Asian Paints on Thursday reported 32.83 per cent rise in consolidated net profit at Rs 803.83 crore for the second quarter ended September 30, 2022 driven by robust sales.

The company had posted a net profit of Rs 605.17 crore in the same quarter last fiscal year.

Revenue from operations stood at Rs 8,457.57 crore in the quarter under review as compared to Rs 7,096.01 crore in the year-ago period.

Sales in the international market increased 15.3 per cent in Q2 FY23 to Rs 805.99 crore from Rs 699.28 crore in the year-ago period.

Asian Paints said its board of directors has approved payment of an interim dividend of Rs 4.40 per equity share.

"The domestic decorative business showed resilience to deliver a double-digit volume growth and healthy value growth despite subdued demand conditions, impacted by the extended monsoon," Asian Paints Managing Director & CEO Amit Syngle said.

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