[Latest News][6]

Best Stock Advisory Company in Indore
Best Stock Option Tips Provider
Budget 2018
Call Put Option Tips
Commodity Market Tips
Commodity Tips
F&O Tips
Indian Stock Market Tips
MCX Tips
Mcx Trading Tips
NCDEX tips
Nifty Future Tips
Nifty Option Tips
NSE BSE stock
NSE BSE stock Market
Option Tips
Option Trading Tips
Share Market Tips
Stock Market Tips
Stock Option Market Tips
Stock Option Tips

Asian Paints net profit up, hit by demonetisation

Paints major Asian Paints on Monday posted a marginal 1.5 per cent rise in consolidated net profit to Rs 489.31 crore in the quarter ended December 31, as compared to Rs 482.02 crore in the previous corresponding period.

On consolidation of accounts of the subsidiaries and associates of the company, income from operations in the quarter under review rose 2.6 per cent to Rs 4,353.99 crore from Rs 4,245.16 crore in the year-ago period.

"The decorative business segment in India registered low single digit growth in the quarter with demand impacted to a certain extent on the back of demonetisation," said Managing Director and CEO K.B.S. Anand. The kitchen business and bath business (ESS ESS) in the home improvement category felt the impact of delayed sales on account of demonetisation, he added.

Anand said the automotive coatings JV (PPG-AP) witnessed good demand conditions in the auto OEM segment and the Industrial Coatings JV (AP-PPG) business saw good growth in industrial liquid paints and powder coating segments. The international business reported good numbers specifically aided by contribution from good pick-up in demand in Nepal, Fiji and certain units in the Middle East. Performance in key market of Egypt was impacted by the devaluation of the local currency, the company said.

Get live News Updates visit us at http://www.ripplesadvisory.com/services.php or One Missed Call on @9303-093093.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Start typing and press Enter to search