New Delhi: Asian Paints on Wednesday reported a 20% rise in its consolidated net profit at Rs 764 crore for the quarter ended December 31 as compared to Rs 636 crore in the corresponding quarter of previous fiscal.
Sequentially, the number declined by 7.7%. Revenue from operations stood at Rs 5,420 crore, up nearly 3% year-on-year while total income grew by 3.3% to Rs 5,490 crore.
Profit before tax increased by 8.4% to Rs 1,057 crore from 975 crore in the year-ago period. Basic and diluted earnings per share came in at Rs 7.97 against Rs 6.63 in Q3 FY19.
"The decorative business segment in India registered a low double-digit volume growth, impacted by the slowdown in overall economy," said Managing Director and CEO K B S Anand.
"Automotive coatings business continued to be impacted by the downturn in automobile industry while industrial coatings saw some demand pick-up in the protective coatings segment. Benign raw material prices benefited the entire coatings business," he said in a statement.
