Friday, 12 May 2017

Asian Paints` Q4 consolidated net profit up 10%

Decorative coatings company Asian Paints on Thursday reported an increase of 10.4 per cent in its consolidated net profit for the fourth quarter (Q4) of 2016-17. According to the company, its consolidated net profit during the quarter under review increased to Rs 462.22 crore from Rs 418.70 crore in the corresponding period of 2015-16. Asian Paints' consolidated revenue from operations (on consolidation of accounts of the subsidiaries and associate of Asian Paints) during the quarter under review rose by 8.9 per cent to Rs 4,416.23 crore from Rs 4,053.83 crore. "The decorative business segment in India registered a low double digit growth in the current quarter after witnessing some recovery from the impact of demonetisation. Raw material prices have moved up over the last two quarters necessitating price increases to protect margins,".

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