Asian Paints, the largest paint companies in India, reported a steady growth in consolidated net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 18.63% to Rs 3,409.70 million from Rs 2,874.20 million in the same quarter previous year.

Total income for the quarter rose 7.17% to Rs 35,774.10 million, compared with Rs 33,381.90 million for the prior year period.

''In the Decorative business segment in India, we registered single digit volume growth in the fourth quarter due to poor demand conditions. Profitability improved due to falling raw material prices. The Automotive Coatings JV (PPGAP) performance was supported by growth in the General Industrial category while the lower growth in Automobile sales impacted the Automotive coatings business. The Industrial Coatings JV (APPPG) witnessed good growth in the fourth quarter particularly in the Industrial Liquid Paints category. However, the business conditions for the Industrial Coatings JV remains challenging given the slow pace of growth in industrial activity. Our International business performed well amidst challenging market conditions in some key markets like Egypt. In the quarter, we had acquired controlling stake in Kadisco, one of the leading paint companies in Ethiopia,'' said K.B.S. Anand, managing director & CEO, Asian Paints.

''Weak consumer sentiments and slower ramp-up than our expectations, impacted demand for our Kitchens (Sleek) and Bath Fittings (ESS ESS) businesses in the Home Improvement business category. We continue to work on streamlining of both the businesses and expanding the network,'' he added.

Shares of the company declined Rs 24.1, or 3.05%, to trade at Rs 765.90. The total volume of shares traded was 827,715 at the BSE (3.31 p.m., Monday).