New Delhi : Asian Paints reported an 18.63 per cent increase in its consolidated net profit at Rs 340.97 crore for the quarter ended March 31, 2015. The company had posted a net profit of Rs 287.42 crore in the corresponding period last year, Asian Paints said in a filing to the BSE.
The consolidated sales during the fourth quarter went up by 6.85 per cent to Rs 3,490.39 crore from Rs 3,266.44 crore in the year-ago period, it added. The board of directors has recommended a payment of final dividend of Rs 4.30 per equity share for the financial year ended March 31, 2015.
For the entire 2014-15 financial year, the company’s consolidated net profit rose to Rs 1,395.15 crore from Rs 1,218.81 crore in the previous fiscal. Asian Paints’ net sales in the 2014-15 financial year stood at Rs 14,005.33 crore.
“In the decorative business segment in India, we registered single digit volume growth in the fourth quarter (January-March 2015) due to poor demand conditions. Profitability improved due to falling raw material prices,” said the company’s managing director and CEO K.B.S. Anand.
He said weak consumer sentiments and slower ramp-up than the company’s expectations impacted demand for its Kitchens (Sleek) and Bath Fittings business segments in the Home Improvement business category.
