Industry News

Asian Paints Announced their Financial Results

Published on 2009-07-27. Author : SpecialChem

MUMBAI, India -- Asian Paints announced their financial results for the first quarter ended June 30, 2009.

Consolidated Results: Q1-FY'10:

For the quarter ended June 30, 2009, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints - Net Profit of the Group has increased by 65.8 % to Rs. 176 crores from Rs. 106 crores over the previous corresponding quarter. Sales & Operating Income has risen by 17.5 % to Rs. 1460.2 crores from Rs. 1242.6 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 59.6% to Rs. 275.8 crore from Rs. 172.8 crores. Profit before Tax has increased by 64.3 % to Rs. 264.4 crores from Rs. 161 crores.

Demand conditions for decorative paints were good in most parts of the country, said P M Murty, MD & CEO, Asian Paints Limited. The environment for industrial paints is yet subdued. Our International units in the Middle East have fared well, he added.

Standalone Results: Q1-FY'10:

For the quarter ended June 30, 2009, Net Profit on a standalone basis increased by 67.8% to Rs. 164.4 crores from Rs. 98 crores. Net Sales increased by 17 % to Rs. 1164.8 crores from Rs. 995.9 crores. PBDIT for the quarter increased by 69.2% to Rs. 244.1 crores from Rs. 144.3 crores. Profit before tax was Rs. 242.5 crores as compared to Rs. 145.2 crores for the previous corresponding quarter, an increase of 67%.

About Asian Paints Limited:

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 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.

Source: Asian Paints Ltd.

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