Asian Paints announced a substantial rise in consolidated net profit for the quarter ended June 2015. During the quarter, the profit of the company rose 34.39% to Rs 4,551.80 million from Rs 3,387.00 million in the same quarter previous year.
Revenues for the quarter rose 7.77% to Rs 36,234.70 million, compared with Rs 33,623 million for the prior year period.
Operating margin for the quarter stood at 16.95 percent as compared to 14.48 percent for the previous year period. Operating Income for the quarter was Rs 6,142.20 million, compared with Rs 4868.6 million in the previous year period.
Earnings per share for the quarter stood at Rs 4.75, registering 34.56% growth over previous year period.
''No significant improvement in demand conditions witnessed in the decorative coatings business in India in the Quarter. Lower raw material prices aided gross margins of the business. The growth in the Industrial coatings JV (AP-PPG) was led by a good demand in Industrial Liquid Paints and Powder coatings segment. The Automotive coatings JV (PPG-AP) witnessed subdued demand conditions both in the General Industrial as well as Auto OEM segment. The Auto Refinish segment registered decent growth. The international business reported satisfactory performance aided by contribution from the units in Middle East and in Ethiopia,'' said K.B.S. Anand, managing director & CEO, Asian Paints.
''In the Home Improvement Business category, the Kitchen (Sleek) and Bath (ESS ESS) businesses has been impacted by subdued demand conditions,'' he added.
| Quarterly Results - Consolidated (Rs in mn) |
| As at | Jun - 15 | Jun - 14 | %Change |
| Revenues | 36,234.70 | 33,622.70 | 7.77 |
| Net Profit | 4,551.80 | 3,387.00 | 34.39 |
| Diluted EPS | 4.75 | 3.53 | 34.56 |
Shares of the company declined Rs 8.9, or 1.04%, to trade at Rs 843.00. The total volume of shares traded was 485,966 at the BSE (1.25 p.m., Tuesday).
