Mumbai: Shares of Asian Paints today surged nearly 9 per cent after the company reported 18.46 per cent increase in consolidated net profit for the first quarter ended June 30, 2016.
The scrip jumped 8.55 per cent to Rs 1,152.65 — its 52-week high — on BSE. At NSE, shares of the company soared 8.66 per cent to touch its one-year high of Rs 1,153.80. The stock was the top gainer among the bluechips on both Sensex and Nifty during the morning trade.
Asian Paints yesterday reported 18.46 per cent increase in consolidated net profit at Rs 552.56 crore for the first quarter ended June 30, 2016. The company had reported a net profit of Rs 466.42 crore in the same period of previous fiscal.
Its total income from operations stood at Rs 4,082.08 crore in the quarter under review, up 10.23 per cent as against Rs 3,703.04 crore in the corresponding quarter last fiscal.
