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Asian Paints Announced Quarter Results

Published on 2010-02-02. Author : SpecialChem

MUMBAI, India -- Asian Paints announced their financial results for the Third Quarter and Nine Months ended Dec 31, 2009.

Asian Paints Consolidated Results: Q3 & Nine Months ended Dec 2009 For the quarter ended Dec 31, 2009, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints - Net Sales of the Group has increased by 22.5% to Rs. 1620 crores from Rs. 1322 crores as compared to the previous corresponding quarter. PBDIT excluding other income for the quarter was up by 188.1% to Rs. 318.1 crores as compared to Rs. 110.4 crores in the previous year. Net Profit after Minority Interest increased by 236.5% to Rs. 198.6 crores as compared to Rs. 59 crores in the previous year.

For the Nine Months period, Net Sales of the group increased by 18.9 % to Rs. 4804.2 crores from Rs. 4040.7 crores. PBDIT excluding other income was up by 86.1% to Rs.916.8 crores as compared to Rs. 492.7 crores. Net Profit after Minority Interest increased by 116.7% to Rs. 643.1 crores as compared to Rs. 296.7 crores in the previous year.

"All the three Business Units viz Decorative, Industrial and International registered good profit growth. Demand conditions for decorative paints remained buoyant in most parts of the country", said P.M. Murty, MD & CEO, Asian Paints Limited. "Margins have increased due to lower material prices compared to last year but are not sustainable going forward" he added.

Asian Paints Standalone Results: Q3 & Nine Months ended Dec 2009

For the quarter ended Dec 31, 2009, Net Sales on a standalone basis increased by 26.8% to Rs. 1277.7 crores from Rs. 1007.4 crores. PBDIT excluding other income for the quarter was up by 223.4% to Rs. 260 crores as compared to Rs. 80.4 crores in the previous year. Net Profit increased by 256.7 % to Rs. 178.7 crores as compared to Rs.50.1 crores in the previous year.

For the Nine Months period, Net Sales on a standalone basis increased by 20.7% to Rs. 3829 crores from Rs. 3172.3 crores. PBDIT excluding other income for this period was up by 93% to Rs. 781.9 crores as compared to Rs. 405 crores. Net Profit increased by 121.4% to Rs. 597.5 crores as compared to Rs. 269.8 crores in the previous year.

About Asian Paints:

Asian Paints is India's largest paint company and ranked among the top ten Decorative Coatings Companies in the World with a turnover of INR 54.63 billion. Asian Paints along with its subsidiaries has operations in 17 countries across the world with 22 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints- Egypt, Asian Paints, Apco Coatings and Taubmans.

Source: Asian Paints


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